#Singapore Locks Down Polymarket#
Hot Topic Overview
Overview
The Singapore government recently blocked the prediction market platform Polymarket, alleging that it violated the Gambling Control Act 2022. The Act prohibits wagering with unlicensed operators, and Polymarket was not licensed by Singaporean authorities. This blocking action is part of the Singapore government's crackdown on online gambling websites, aiming to protect citizens from the harms of gambling.
Ace Hot Topic Analysis
Analysis
Singapore authorities have blocked the prediction market platform Polymarket, alleging it violated the country's Gambling Control Act 2022. The Act prohibits betting with unlicensed operators, and Polymarket was not licensed in Singapore. Singapore authorities argue that Polymarket's prediction market functionality is essentially a form of gambling, as users can profit by predicting the outcome of events. Therefore, Singapore authorities implemented the block to prevent its citizens from engaging in unlicensed gambling activities. This incident reflects the Singapore government's strict regulatory stance on online gambling and its commitment to protecting citizens from potential risks.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Singapore lockdown
Polymarket
is to prevent
unlicensed gambling
Singapore's
Gambling Control Act 2022
prohibits
betting
with
unlicensed
operators
Polymarket
is considered
an unlicensed
gambling operator
Singapore
is cracking down
on
online gambling
sites
nationwide