Singapore and Thailand have moved to block prediction markets platform Polymarket, adding to the regulatory hurdles facing the venue that surged in popularity during the US election.

The city-state's Gambling Regulatory Authority tells local ISPs to stop access to the leading prediction market.

Singapore has blocked access to the crypto-betting platform Polymarket. Users accessing the platform face a $10,000 fine or up to six months in jail. France,

Singapore blocked Polymarket, warning users that gambling with unlicensed providers can result in fines or jail time.

Thailand plans to ban Polymarket, labeling it illegal online gambling. Singapore recently restricted the platform joining the USA and France.

Polymarket faces mounting pressure as global regulators probe it for handling multimillion-dollar political wagers.

Singapore and Thailand have moved to block the prediction markets platform Polymarket , adding to the regulatory hurdles facing the venue that surged in popularity during the US election.

Singapore’s gambling regulator has banned prediction marketplace Polymarket, defining it as an “illegal gambling site.”

Singapore bans Polymarket, classifying it as an illegal gambling site, with penalties for users engaging with unlicensed operators

SINGAPORE: Singapore has joined the United States, France, Taiwan, and other countries in restricting access to Polymarket, a blockchain-based platform that allows users to trade on the outcomes of real-world events, according to Forex Live.