Indonesia, the world’s fourth most populous nation and Southeast Asia’s largest economy, has moved to block Polymarket, the popular blockchain-based predictions platform, over concerns tied to online gambling, Reuters reported on Monday.
The ban came days after the site hosted a wager on whether Indonesian President Prabowo Subianto would leave office before his term expires in 2029.
Alexander Sabar, the country’s communications and digital ministry said Polymarket violates Indonesian law because it allows betting and speculation on uncertain events. Gambling is prohibited in Indonesia, where officials have been tightening enforcement against online betting activity.
The market that triggered the response
The controversial market appeared on Polymarket on May 21, one day after Prabowo unveiled a plan to centralize government control over Indonesia’s most valuable commodity exports, including coal and palm oil. The administration’s economic policies have come under increased investor scrutiny this year.
Indonesian authorities said they were also monitoring the social media accounts associated with the platform. Polymarket has not publicly responded to the ban.
Prediction market platforms such as Polymarket form part of a multibillion-dollar industry that allows users to trade on forecasts related to elections, sports, and other events. Opponents argue these services can amount to illegal or unlicensed gambling under local regulations.
Polymarket’s services are restricted or geo-blocked across more than 30 jurisdictions under its official compliance policy, covering countries such as Australia, Belgium, France, Germany, Singapore, Thailand, and the UK.
Among the countries that have publicly taken clear regulatory action against the platform in recent years are Singapore, France, Belgium, Poland, Thailand, Indonesia, and certain Ukrainian regions under sanctions-related restrictions.