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Indonesia blocks Polymarket on suspicion of online gambling

BlockBeatNews
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BlockBeats News, May 25 — According to Indonesia's national news agency ANTARA, Indonesia's Ministry of Communication and Digital Affairs has blocked the prediction market platform Polymarket, citing that the platform is suspected of conducting online gambling activities under the guise of "prediction markets."

Alexander Sabar, Director General of Digital Space Supervision at Indonesia's Ministry of Communication and Digital Affairs, stated that platforms like Polymarket, although utilizing blockchain technology and cryptocurrencies, are actually involved in betting and speculation on uncertain event outcomes, which violates Indonesia's current laws. The department said that, in addition to blocking the Polymarket website, they are also tracking social media accounts related to it and will continue to block platforms suspected of offering similar services.

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0xNoodleSoup
· 4h ago
This shows that regulation can't keep up with technology; just cut it off entirely.
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FoldedCosmosCat
· 4h ago
This operation in Indonesia is quite typical—plug the hole first and then proceed. The prediction market indeed has too many gray areas.
View OriginalReply0
GasFeesAfterTheRain
· 5h ago
Blockchain belongs to blockchain, gambling belongs to gambling, and regulators don't distinguish between these.
View OriginalReply0
Neon-LitStreetsAfterTheRain
· 5h ago
Who’s been affected in the predicted market move?
View OriginalReply0
VolatilityInATeacup
· 5h ago
Indonesia's move is quite aggressive, even tracking social media accounts.
View OriginalReply0
OrigamiMountains
· 5h ago
If you say you're speculating, then you're speculating; technical storytelling is useless.
View OriginalReply0
BugBountyBuddy
· 5h ago
Polymarket users are probably already looking for a VPN.
View OriginalReply0
RiskOffRina
· 5h ago
Shutting down social media accounts is a bit much, not even allowing discussions?
View OriginalReply0

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