Singapore Bans Polymarket Prediction Platform 🚫
Singapore has officially banned Polymarket, a crypto-based prediction platform, on January 13, 2025.
The Monetary Authority of Singapore (MAS), the central bank and financial regulator, cited the absence of required licenses under the Payment Services Act as a reason for the ban.
This action underscores Singapore's commitment to strict financial oversight and regulatory compliance in the rapidly evolving space.
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