Indonesia blocks Polymarket over online gambling concerns after bets on president's exit | Technology
Indonesia blocked Polymarket for online gambling violations after bets on President Prabowo Subianto's exit.Summary
Indonesia has blocked the predictions market Polymarket, classifying it as an online gambling platform. The move follows a crackdown on illegal betting in the country. The decision was made after Polymarket attracted attention for taking bets on the premature end of President Prabowo Subianto's term, which expires in 2029. The betting activity occurred shortly after the President announced a plan to centralize control over key commodity exports like coal and palm oil. The government is also investigating social media accounts associated with the platform. Prediction markets allow users to profit from predictions on events, but they face legal scrutiny in various jurisdictions, including some U.S. states, which argue they are unlicensed gambling.
(Source：Devdiscourse)