Polymarket Reportedly Blocked in Singapore, Escalating Global Regulatory Challenges 🚫
Polymarket, a blockchain-based prediction market platform, faces new challenges as it is blocked in Singapore for being classified as a gambling site. This adds to its growing list of regulatory issues, previously scrutinized by the United States.
Singapore authorities warn individuals to only use state-authorized gambling operators, with penalties including fines and jail time. Alex Zuo highlighted this situation, emphasizing potential consequences for non-compliance.
Polymarket has drawn attention for aggregating opinions on events like elections and disasters, but its operations face scrutiny in various jurisdictions, including France and the U.S. The U.S. Department of Justice and the FBI are further investigating it for alleged misconduct.
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