Latest jurisdiction to restrict prediction market platform after social media attention
Indonesia’s Ministry of Communication and Digital Affairs has blocked access to Polymarket, a crypto-based prediction market platform, after a bet on the premature end of President Prabowo Subianto’s presidency gained traction on social media.
Alexander Sabar, Director General of Digital Space Supervision for Indonesia, framed the ban as enforcement against unlicensed gambling. “The government will not tolerate any form of online gambling in Indonesia. Activities like Polymarket involve monetary betting and speculation on events with uncertain outcomes, which violates applicable Indonesian laws,” Sabar said.
The move places Indonesia among at least eight jurisdictions that have restricted or blocked Polymarket. Taiwan, Thailand, China, India, Singapore, Colombia, Argentina, and Brazil have all imposed similar restrictions over the past two years.
Argentina’s ban followed a court order directing internet service providers, Google, and Apple to block access to the platform. The court cited unlicensed gambling operations as the reason. Brazil’s central bank announced its own ban, citing non-compliance with derivatives trading regulations and investor protection concerns.
The timing coincides with increased US scrutiny. Last week, House of Representatives member James Comer launched a formal investigation into Polymarket and rival platform Kalshi. Comer sent letters to the CEOs of both platforms requesting information on insider trading detection mechanisms, user identity verification procedures, and enforcement of geographic restrictions.
Both Polymarket and Kalshi have faced legal headwinds in the United States. The platforms lost bids to halt gambling enforcement actions in Nevada and Washington state.
Indonesia’s classification of prediction markets as gambling platforms, regardless of their blockchain infrastructure, reflects a broader regulatory pattern. Multiple governments have treated these platforms as unlicensed betting operations rather than financial derivatives markets, blocking access through ISP-level restrictions and app store removals.
The ban represents a shift in how prediction market platforms navigate global regulation. Unlike traditional crypto restrictions that target blockchain technology itself, these actions focus on the gambling and speculation aspects of the platforms’ core functionality.
