{"id":146629,"date":"2025-01-13T13:00:11","date_gmt":"2025-01-13T11:00:11","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=146629"},"modified":"2025-01-13T04:33:56","modified_gmt":"2025-01-13T02:33:56","slug":"singapore-blocks-polymarket-in-crackdown-on-unauthorized-gambling-platforms","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/singapore-blocks-polymarket-in-crackdown-on-unauthorized-gambling-platforms\/","title":{"rendered":"Singapore Blocks Polymarket in Crackdown on Unauthorized Gambling Platforms"},"content":{"rendered":"<p>On January 12, users attempting to access Polymarket from Singapore were met with <strong><a href=\"https:\/\/x.com\/alexzuo4\/status\/1878267006434074988\" target=\"_blank\" rel=\"nofollow\">warnings<\/a> <\/strong>referencing the Gambling Control Act 2022, which penalizes unlicensed gambling with fines up to SGD 10,000, jail time of up to six months, or both.<\/p>\n<p>Polymarket operates on the Polygon blockchain and allows users to place wagers on global events using USD Coin (USDC). Singapore\u2019s Gambling Regulatory Authority (GRA), created in 2022 to oversee evolving gambling services, labeled the platform illegal, asserting that only Singapore Pools is authorized to provide such services.<\/p>\n<p>As of January 1, the Singapore Police Force took over enforcement against illegal gambling activities, reinforcing the country\u2019s hardline stance. Authorities have blocked thousands of gambling websites and transactions totaling SGD 37 million since 2015. Repeat offenders face harsher penalties, including fines up to SGD 700,000 and imprisonment for up to 10 years.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/xrp-and-solana-etfs-could-transform-crypto-landscape-in-2025\/\" title=\"XRP and Solana ETFs Could Transform Crypto Landscape in 2025\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2025\/01\/XRP-Solana-240x170.webp\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">XRP and Solana ETFs Could Transform Crypto Landscape in 2025<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>While Singapore strictly regulates gambling, it remains a leader in blockchain innovation. A 2024 report highlighted Singapore\u2019s 1,600 blockchain patents, over 2,400 jobs in the sector, and 81 cryptocurrency exchanges. The Monetary Authority of Singapore doubled its digital asset licenses in 2024, issuing 13 approvals for crypto exchanges.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Singapore has blocked access to Polymarket, a blockchain-based prediction platform, as part of its crackdown on unauthorized gambling services.<\/p>\n","protected":false},"author":9,"featured_media":141088,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[],"class_list":["post-146629","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Singapore Blocks Polymarket in Crackdown on Unauthorized Gambling Platforms<\/title>\n<meta name=\"description\" content=\"Singapore 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