{"id":34771,"date":"2025-01-12T22:30:17","date_gmt":"2025-01-12T19:30:17","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=34771"},"modified":"2025-01-12T22:16:31","modified_gmt":"2025-01-12T19:16:31","slug":"singapore-blocks-polymarket-access","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/singapore-blocks-polymarket-access\/","title":{"rendered":"Singapore Blocks Polymarket Access!"},"content":{"rendered":"<p><strong>Singapore<\/strong> has blocked access to the cryptocurrency-based prediction platform <strong>Polymarket<\/strong> as part of its strict measures against unauthorized gambling platforms.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/singapore-blocks-polymarket-access\/#Why_Was_Polymarket_Blocked\" title=\"Why Was Polymarket Blocked?\">Why Was Polymarket Blocked?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/singapore-blocks-polymarket-access\/#GRA_and_Gambling_Laws\" title=\"GRA and Gambling Laws\">GRA and Gambling Laws<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/singapore-blocks-polymarket-access\/#Polymarkets_Regulatory_Challenges\" title=\"Polymarket&#8217;s Regulatory Challenges\">Polymarket&#8217;s Regulatory Challenges<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Why_Was_Polymarket_Blocked\"><\/span>Why Was Polymarket Blocked?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On January 12, several users in Singapore reported issues accessing <strong>Polymarket<\/strong>. When attempting to enter the site, users encountered a warning citing the <strong>Gambling Control Act 2022<\/strong>, which prohibits betting with unlicensed operators.<\/p>\n<p>Alex Zuo, Vice President of Investment and Custody at <strong>Cobo Global<\/strong>, shared on X:<br \/>\n\u201cPolymarket is officially defined as a gambling website in Singapore. If you want to place a bet, you can only go to a state-owned gambling company. Otherwise, you will face fines and imprisonment.\u201d<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-145293 \" src=\"https:\/\/coinmuhendisi.com\/blog\/wp-content\/uploads\/2025\/01\/polymarket.png\" alt=\"\" width=\"821\" height=\"925\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"GRA_and_Gambling_Laws\"><\/span>GRA and Gambling Laws<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Users trying to access the site are met with the following message from the <strong>Gambling Regulatory Authority (GRA)<\/strong>:<br \/>\n\u201cYou have attempted to access an illegal gambling site hosted by an unlicensed gambling service provider. <strong>Singapore Pools<\/strong> is the only licensed online gambling operator in Singapore.\u201d<\/p>\n<p>The GRA was established on August 1, 2022, by restructuring the Casino Regulatory Authority to oversee all forms of gambling under a single regulatory body.<\/p>\n<hr \/>\n<p><strong><em>You Might Be Interested In: <a href=\"https:\/\/coinengineer.net\/blog\/elon-musk-shared-that-memecoin-flew-up-500\/\">Elon Musk Shared, That Memecoin Flew: Up 500%!<\/a><\/em><\/strong><\/p>\n<hr \/>\n<p><strong>Polymarket<\/strong> operates on the <strong>Polygon blockchain<\/strong>, allowing users to bet on global events using <strong>USD Coin (USDC)<\/strong> as the primary currency.<\/p>\n<p>As of January 1, enforcement authority over illegal gambling activities has been transferred from the GRA to the Singapore Police Force. According to a statement on the GRA website, individuals engaging in unlawful gambling may face fines of up to 500,000 Singapore dollars and imprisonment for up to 7 years. Repeat offenders may receive fines of up to 700,000 Singapore dollars and 10 years of imprisonment.<\/p>\n<p>In a December 30 statement, the GRA revealed that since 2015, over 3,800 gambling websites and 145,000 transactions totaling 37 million Singapore dollars have been blocked.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Polymarkets_Regulatory_Challenges\"><\/span>Polymarket&#8217;s Regulatory Challenges<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Polymarket has faced regulatory issues in the past:<\/p>\n<ul>\n<li>In 2022, the U.S. <strong>CFTC<\/strong> fined Polymarket $1.4 million for operating an unregistered derivatives trading platform, which led the platform to block U.S. users.<\/li>\n<li>In November 2024, the platform blocked users in France following reports of an investigation by French authorities regarding compliance with gambling laws.<\/li>\n<\/ul>\n<p>Despite these challenges, Polymarket continues to see significant activity. In the first days of 2025, the platform recorded a trading volume of $431 million. Its largest market, the 2025 Super Bowl Championship, has attracted over $15 million in wagers, according to <strong>Dune Analytics<\/strong>.<\/p>\n<p>Polymarket and the GRA have not responded to requests for comment at the time of publication.<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Singapore has blocked access to the cryptocurrency-based prediction platform Polymarket as part of its strict measures against unauthorized gambling platforms. Why Was Polymarket Blocked? On January 12, several users in Singapore reported issues accessing Polymarket. When attempting to enter the site, users encountered a warning citing the Gambling Control Act 2022, which prohibits betting with<\/p>\n","protected":false},"author":28,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,2],"tags":[192,1281,10976,10975,10974,84,3014,1776,3690],"class_list":["post-34771","post","type-post","status-publish","format-standard","hentry","category-crypto-news","category-en","category-news","tag-blockchain","tag-cftc","tag-crypto-prediction-market","tag-gambling-control-act","tag-gra","tag-polygon","tag-polymarket","tag-singapore","tag-usd-coin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Singapore Blocks Polymarket Access! - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/singapore-blocks-polymarket-access\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Singapore Blocks Polymarket Access! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Singapore has blocked access to the cryptocurrency-based prediction platform Polymarket as part of its strict measures against unauthorized gambling platforms. 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