- Indonesia blocked Polymarket and labelled the platform as an online gambling activity.
- Authorities said crypto-based prediction markets violate Indonesia’s gambling laws.
- Indonesia is tracing Polymarket-linked accounts and monitoring similar platforms.
Indonesia has blocked access to the crypto-based prediction market platform Polymarket after authorities concluded that the service violated the country’s online gambling laws. The decision was announced by the country’s Ministry of Communication and Information Technology through its Digital Space Oversight division, which stated that the platform enabled speculative betting on uncertain outcomes despite operating under a prediction-market structure.
According to local reports, the ministry said the restrictions were part of its efforts to prevent online gambling and protect digital users, particularly younger internet users, from financial risks associated with speculative platforms.
Authorities said they are also monitoring affiliated social media accounts and related online channels linked to Polymarket as part of broader enforcement efforts against online gambling platforms
Indonesian Authorities Target Prediction Market Platforms
Alexander Sabar, director general of digital space supervision at the ministry, stated that platforms allowing users to place monetary bets on future events remain prohibited under Indonesian law, even when blockchain technology or crypto assets are involved in the transaction process.
Prediction markets typically allow participants to trade contracts tied to the outcomes of future events, such as elections, economic developments, or sports competitions. Indonesian regulators argued that Polymarket’s structure effectively enabled financial wagering and speculative activity, placing it within the category of online gambling services.
The ministry said enforcement efforts would not stop with Polymarket alone. Officials indicated that other platforms offering similar prediction market services could also face access restrictions if they are found to violate national regulations.
Government Expands Digital Monitoring Measures
Authorities stated that the ministry had begun tracing accounts and online channels linked to Polymarket to strengthen enforcement across multiple digital platforms. The government added that it would continue coordinating with law enforcement agencies and other stakeholders while monitoring online services operating within Indonesia’s digital ecosystem.
Officials also urged residents not to engage in speculative betting on digital assets, warning that such activities could result in financial losses and legal consequences under Indonesian regulations.
Indonesia’s move follows similar actions taken in several jurisdictions worldwide. According to the ministry, countries including Singapore, Brazil, and India have already blocked access to Polymarket, while Taiwan, Thailand, China, and Japan have introduced restrictions based on their respective domestic laws.
Related: US Congress Launches Probe Into Polymarket and Kalshi Over Alleged Insider Trading
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