Indonesia blocks prediction market platform Polymarket, classifying it as an illegal online gambling site

Odaily Planet Daily News Indonesia's Ministry of Communication and Digital Affairs recently blocked the prediction market platform Polymarket, classifying it as an online gambling platform, as it offers betting and speculation on unresolved events, violating local laws.

Previously, Polymarket launched a betting market on when President Prabowo Subianto would leave office, with his term originally set to last until 2029. This contract was launched the day after Prabowo announced plans to centrally control the export of bulk commodities such as coal and palm oil, sparking discussions on local social media. Indonesian authorities also stated that they are investigating all social media accounts associated with Polymarket. (Cointelegraph)