Indonesia blocks Polymarket, calling prediction market online gambling in disguise
Authorities stated that using crypto or blockchain doesn't change platforms that let users wager on uncertain outcomes from being gambling products.
AI Summary
Indonesia's Ministry of Communication and Digital Affairs has blocked access to Polymarket, classifying the crypto-based prediction market as illegal online gambling under local law. Indonesian authorities stated that using blockchain technology or cryptocurrency does not change the nature of platforms that allow users to wager money on uncertain outcomes, arguing they remain gambling products regardless of their technological structure. The ban is part of a broader regional crackdown, with India also restricting similar prediction market services, and Indonesian regulators indicated they may extend restrictions to other comparable platforms.