Singapore blocks polymarket impacting crypto users and gambling laws.

Under the Gambling Control Act 2022, Singapore has limited access to Polymarket, a cryptocurrency-based prediction market. The nation's stand against illegal internet gambling is best highlighted by such actions.

Users can use USD Coin (USDC) on the Polygon blockchain for betting on global events through Polymarket. Using unauthorized betting websites can result in a minimum fine of $10,000, a maximum jail sentence of six months, or both, according to Singapore laws.
A warning message upon trying to enter Polymarket redirects users from accessing the gambling platform. So, these are the reasons why the polymarket was blocked.

Strict Gambling Laws in Singapore

Singapore's gaming regulations are the most strict in the world. Since 2015, the government has closed 3,800 online gambling sites and frozen 145,000 transactions worth SG$ 37 million ($27 million).
 For first-time offenders, illegal gambling will attract fines of up to $500,000 and a maximum jail term of seven years; for second-time offenders and beyond, the penalties are stiffer. The only organization authorised to run an online gaming operation is Singapore Pools, a state-owned operator. The Singapore Police Force has been ordered to obey the law and intensify its crackdown on illegal platforms since January 1, 2025.

Impact on the Cryptocurrency Community

Singapore continues to lead the way in blockchain and cryptocurrency innovation, even as it firmly opposes illegal gambling. The nation's cryptocurrency market has grown fast, with 81 bitcoin exchanges and 1,600 blockchain innovations. Singapore issued 13 licenses for digital assets in 2024, a significant increase over the year earlier. The Polymarket ban is an important reminder for Bitcoin users to be aware of local laws and regulations when working with blockchain-based platforms.

The Regulation Issues with the Polymarket

Legal pressure has been applied to Polymarket in numerous jurisdictions.
 In 2022, it was sanctioned for $1.4 million by the US Commodity Futures Trading Commission (CFTC) and restricted access to users in the US. The platform blocked access from France in 2024 due to investigations launched by French authorities. The CFTC most recently served Polymarket with a subpoena through Coinbase in 2025, which could force the business to provide customer data. Nonetheless, Polymarket is still open and had already achieved $431 million in trading volume at the beginning of 2025, this comprised $15 million in wagers on the Super Bowl Championship 2025.

Singapore's ban on Polymarket demonstrates the country's intent to curb illegal gambling and develop blockchain technology. To avoid legal issues, proponents of cryptocurrencies must select only registered platforms and ensure that local regulations are always first. Following changing laws is key to safe and responsible participation in the ever-expanding blockchain and cryptocurrency industries.