Polymarket Reportedly Blocked in Singapore, Escalating Global Regulatory Challenges
Polymarket, a blockchain-powered forecast market, has actually been supposedly obstructed in Singapore due to the fact that the authorities categorize it as a gaming platform.
This marks another substantial difficulty for the platform, which is currently under regulative examination in the United States.
Why Did Singapore Block Polymarket?
On January 12, Alex Zuo, Vice President of Investment and Custody at Cobo Global, exposed on X (previously Twitter) that Singapore has actually formally designated Polymarket as a betting website. This category has actually resulted in constraints on gain access to within the nation.
Zuo mentioned that people in Singapore need to put bets just through state-authorized gaming operators. Those who stop working to comply threat dealing with fines or ja...