YEREVAN (CoinChapter.com) — Singapore has blocked access to Polymarket, a blockchain-based prediction market, under the Gambling Control Act 2022. On Jan․ 12, users in Singapore reported being unable to reach the platform.
Visitors to the Polymarket website from Singapore were met with a warning. The notice references Section 20 of the Gambling Control Act 2022 and states,
“You have attempted to access an illegal gambling site hosted by an unlicensed gambling service provider. Singapore Pools is the only licensed online gambling operator in Singapore.”
Penalties for using unlicensed platforms include fines up to 10,000 Singapore dollars, imprisonment of up to six months, or both.
Polymarket Access Blocked. Source: Alex ZuoRole of the Gambling Regulatory Authority (GRA)
The Gambling Regulatory Authority (GRA) oversees all gambling operations in Singapore. Established on Aug․ 1, 2022, the GRA replaced the Casino Regulatory Authority to manage evolving gambling products and services.
As of Jan․ 1, the Singapore Police Force has taken over the enforcement of laws related to illegal gambling. According to the GRA, “Singapore Pools (Private) Limited is the only operator licensed by the GRA to provide remote gambling services.” Violations can lead to fines of up to $500,000 and jail terms of up to seven years, with repeat offenders facing fines of $700,000 and up to 10 years in prison.
Unlawful Remote Gambling Laws. Source: Gambling Regulatory AuthoritySince 2015, Singapore has blocked over 3,800 gambling websites and stopped 145,000 transactions worth SG$37 million ($27 million). These measures aim to curb unlicensed gambling activity.
Blocked Gambling Transactions Data. Source: Gambling Regulatory AuthorityPolymarket’s Blockchain Model and Legal Hurdles
Polymarket operates on the Polygon blockchain, offering users the ability to bet on world events using USD Coin (USDC). Despite its functionality, the platform has faced significant legal challenges.
On Jan․ 8, Coinbase notified users about a subpoena from the Commodity Futures Trading Commission (CFTC) concerning Polymarket. The subpoena might require Coinbase to share user account data unless legal action blocks the request by Jan․ 15.
In 2022, Polymarket paid a $1.4 million fine to settle charges from the CFTC for running an unregistered derivatives trading platform. This settlement led to Polymarket ceasing operations for U.S. customers. In November 2024, the platform blocked French users due to investigations into its compliance with gambling laws.
CFTC Fines Polymarket $1.4M. Source: Commodity Futures Trading CommissionSingapore’s Blockchain Leadership Amid Gambling Crackdowns
Notably, while enforcing strict gambling laws, Singapore remains a global leader in blockchain and cryptocurrency development. A December 2024 study by ApeX Protocol highlighted Singapore’s position, noting over 1,600 blockchain patents, 81 cryptocurrency exchanges, and 2,433 related jobs.
Despite restrictions, Polymarket continues to attract global users. By early 2025, the platform recorded $431 million in trading volume. Its most active market, Super Bowl Championship 2025, has generated over $15 million in wagers, according to Dune Analytics.
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