2 days ago
Jan 13, 2025, 8:16 a.m. UTC
Another jurisdiction has Polymarket successful its crosshairs. Over the weekend, Singapore's Gambling Regulatory Authority (GRA) ordered section net work providers to artifact entree to the prediction marketplace platform, according to reports from users successful the city-state.
"You person attempted to entree an amerciable gambling tract hosted by an unlicensed gambling work provider," the announcement reads, informing that those recovered blameworthy of gambling with unlicensed work providers are liable for a good of up to SGD 10,000 ($7200) oregon a jailhouse condemnation of up to 6 months.
The GRA has yet to marque a nationalist announcement connected the issue, nor person they launched an enforcement enactment against Polymarket according to a nationalist directory.
Taiwan was the archetypal jurisdiction to actively artifact its nationals from utilizing the prediction marketplace platform, and section instrumentality enforcement arrested 17 people connected the land for betting connected its astir caller statesmanlike election.
Local Taiwanese predetermination law specifically prohibits betting connected the result of elections.
Polymarket has besides been the target of gaming authorities successful France, and has blocked users successful the state from accessing the platform.
Recently, the U.S. Commodity Futures Trading Commission subpoenaed Coinbase looking for accusation astir U.S. nationals trading connected Polymarket arsenic portion of an ongoing investigation.
Sam Reynolds
Sam Reynolds is simply a elder newsman based successful Hong Kong. Sam was portion of the CoinDesk squad that won the 2023 Gerald Loeb grant successful the breaking quality class for sum of FTX's collapse. Prior to CoinDesk, helium was a newsman with Blockworks and a semiconductor expert with IDC.
English (US) 