Govt blocks prediction market Polymarket amid bet on Prabowo’s presidency

Indonesia’s Communications and Digital Ministry has blocked access to the US-based prediction market Polymarket, citing its classification as an online gambling site. The ban follows the platform’s role in facilitating bets on uncertain events, including a widely shared bet regarding President Prabowo Subianto’s potential removal from office. The ministry stated that Polymarket’s activities, despite using blockchain and cryptocurrency, violate Indonesian laws by enabling monetary speculation. The restriction was announced on Friday, with authorities also vowing to monitor social media accounts linked to the platform to limit its spread. Digital space supervision director general Alexander Sabar emphasized that the government would not tolerate any form of online gambling in the country. He warned that such activities risk financial losses and violate existing regulations. The ministry highlighted that similar bans have been imposed in other countries, including Singapore, Brazil, and India. In a public statement, the government urged citizens to avoid participating in speculative digital betting activities to prevent potential harm. The ban comes amid heightened scrutiny of online platforms facilitating speculative bets, particularly during politically sensitive periods. Authorities stressed their commitment to protecting citizens in the digital space by enforcing strict regulations against gambling-related activities.