Indonesia’s Ministry of Communication and Digital Affairs has officially blocked access to Polymarket, a crypto-driven prediction market, categorizing it as an online gambling platform under local legislation. The ministry has also initiated actions to trace associated social media accounts for potential restrictions across various digital channels.
Alexander Sabar, the director general responsible for overseeing digital spaces, emphasized that platforms enabling users to bet on uncertain outcomes are considered gambling products, regardless of their use of blockchain technology or cryptocurrencies. This stance reflects a growing regulatory trend in the region.
Polymarket allows users to trade contracts linked to real-world events, such as elections, sports outcomes, and cryptocurrency prices. Despite its expansion into one of the largest crypto prediction markets, it has faced scrutiny from regulators in multiple jurisdictions, often being classified as gambling rather than legitimate financial market activity.
While Indonesia’s announcement did not specifically mention other platforms like Kalshi, a U.S.-regulated prediction market operator, it indicated that authorities would impose restrictions on similar services that facilitate online gambling. This could potentially extend to other prediction markets if they are found to allow users to wager on uncertain real-world events.
This decision aligns with a broader crackdown on prediction markets across Asia. Recently, India also blocked Polymarket, categorizing such platforms as prohibited online gaming. Kalshi is under scrutiny as well, while Polymarket is seeking regulatory approval in Japan by 2030, where strict gambling regulations limit most forms of betting to state-sanctioned activities.
The Indonesian ministry noted that Polymarket has already been blocked in several countries, including Singapore, Brazil, and India. Additionally, regions such as Taiwan, Thailand, China, and Japan have imposed their own restrictions, while Ukraine has completely barred the platform without any legal avenue for reinstatement.
In light of these developments, the ministry has advised Indonesian citizens against engaging in digital betting activities, including those involving cryptocurrencies, citing risks of financial losses and legal violations. It has pledged to continue collaborating with law enforcement and other stakeholders to monitor similar platforms.
Indonesia's Ministry of Communication has blocked Polymarket, deeming it an online gambling platform. This action reflects a regional trend of increased scrutiny on crypto-based prediction markets, with similar restrictions emerging in other countries.