Singapore Bans Polymarket Over Unlicensed Gambling Operations 🇸🇬
Singapore has taken firm action against Polymarket by officially classifying it as an illegal gambling platform. This decision is a result of the country's strict Gambling Control Act 2022, which prohibits unlicensed online betting activities.
Visitors attempting to access Polymarket's site within Singapore are now met with a warning message from the Gambling Regulatory Authority (GRA). This notice informs users of the potential penalties they could face, which include fines of up to $10,000 as well as a possible six-month imprisonment.
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