#Polymarket is blocked in Singapore.#

Polymarket, a prediction market platform that allows users to predict the outcomes of future events, has been classified as a gambling website and blocked by the Singapore authorities. Citing the Gambling Control Act 2022, which prohibits betting with unlicensed operators, the Singapore government deemed Polymarket an unlicensed gambling service provider. Singaporean users accessing the Polymarket website are met with a prompt informing them that the site is an illegal gambling website, warning users of potential fines up to $10,000 or imprisonment of up to six months. The incident has sparked discussions about the regulation of prediction markets and the attention paid to how regulators define gambling activities. Some argue that Polymarket's prediction market is fundamentally different from traditional gambling, as it focuses more on prediction and information gathering than simply betting. However, the Singapore government seems to view Polymarket's prediction market activities as a form of gambling and has taken strict regulatory measures. The incident also reflects the global regulatory trends surrounding cryptocurrencies and decentralized finance, as governments strive to develop appropriate regulatory frameworks to address the challenges posed by emerging technologies.