Hassan Maishera
TL;DR
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Indonesia’s Ministry of Communication and Digital Affairs has blocked access to Polymarket, labeling the crypto prediction platform as online gambling under local law.
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The move is part of a broader regional crackdown on prediction markets, with several countries in Asia and beyond also restricting or banning similar platforms.
Indonesia Orders Nationwide Access Ban
Indonesia’s Ministry of Communication and Digital Affairs has blocked access to the crypto prediction platform Polymarket, stating that its activities fall under prohibited online gambling under national law.
The ministry confirmed it has already restricted access to the platform and is now monitoring related social media accounts, with potential further blocks across other digital channels.
Alexander Sabar, director general of digital space supervision, said platforms that allow users to place money on uncertain outcomes are considered gambling products, even if they operate using blockchain technology or crypto assets.
The regulator emphasized that the underlying structure—betting on future real-world events—meets the legal definition of gambling in Indonesia.
Polymarket operates a prediction market where users trade contracts based on real-world outcomes such as elections, sports results, crypto prices, and political events.
The platform has grown into one of the largest crypto-based prediction markets globally, but has faced increasing regulatory pressure as authorities debate whether such products are financial instruments or gambling tools.
Wider Crackdown on Prediction Markets
Indonesia’s decision aligns with a broader regulatory tightening across Asia. India has already blocked access to similar platforms after classifying them as prohibited online money gaming.
Other jurisdictions—including Singapore, Brazil, Taiwan, Thailand, China, Japan, and Ukraine—have also imposed restrictions or outright bans on prediction markets.
Some regulators, however, are still exploring frameworks. Kalshi, a U.S.-regulated prediction market operator, has also come under scrutiny in multiple regions as authorities assess how these platforms should be classified.
Although Indonesia did not name specific competitors beyond Polymarket, officials warned that any similar platforms enabling wagering on real-world outcomes could face the same restrictions.
This suggests the ban could extend further if regulators determine other services meet the same criteria for online gambling.
The ministry has urged Indonesians to avoid participating in digital betting activities, including crypto-based markets, warning of potential financial risks and legal consequences.
Authorities said they will continue coordinating with law enforcement and other agencies to monitor and restrict access to similar platforms moving forward.
