Polymarket blocked in Singapore
Singapore has blocked access to blockchain-based prediction market Polymarket, referring to the Gambling Control Act 2022, a law strictly prohibiting gambling offerings from non-licensed operators. Nowadays, attempts to access Polymarket from Singapore are forwarded to a warning message from GRA. It tells one about the penalties for accessing such sites: up to SG$10,000 in fines, up to six months’ imprisonment, or both.
Polymarket runs its operations on the Polygon blockchain and allows users to bet on various world events using the USD Coin, USDC. This platform has come under the strict regulations of Singapore as an illicit gambling operator.
Regulatory Oversight
Established in August 2022, the GRA has become the most important authority over all types of gambling in Singapore. The establishment consolidated functions of regulation into one body so as to ensure coherence in tackling traditional and new gambling products. Still, Singapore Pools maintains the monopoly of online gambling licenses issued in the country.
Shift in Enforcement
With effect from January 1, 2025, enforcement-related work relating to illegal gambling activities comes under the Singapore Police Force. GRA pointed out that those guilty of illegal gambling can expect a heft fine. For repeat offenders, one can face fines up to $700,000 and 10 years’ imprisonment.
It has, to date, since 2015 blocked more than 3,800 illegal gambling websites and stopped transactions worth SG$37 million, proving the tough line it takes on unauthorized operators.
Broader Crypto Context
While Singapore has strict gambling laws, the city-state remains a hotbed for blockchain innovation. According to a 2024 study by ApeX Protocol, Singapore leads the industry with 1,600 blockchain patents and 81 cryptocurrency exchanges. The Monetary Authority of Singapore also doubled the issuance of digital asset licenses in 2024, reinforcing its support for regulated crypto activities.
Polymarket’s Global Challenges
Polymarket has been very scrutinized from the whole world: in 2022, it had to pay a fine of $1.4 million to the Commodity Futures Trading Commission of the US and to stop serving US users. More recently, it blocked users in France after an investigation launched by local regulators into its compliance with the laws against gambling in late 2024.
Despite regulatory hurdles, Polymarket is still alive and kicking, notching $431 million in trading volume at the beginning of 2025. But its future remains very much in doubt as global regulators get tough on unlicensed gambling platforms.
