Singapore Wagering on Polymarket Continues Despite Block

Singapore-related betting activities have increased on the Polymarket platform despite its prohibition from being used in the region since December 2024. The trend indicates that issues surrounding the enforcement of prohibitions in relation to offshore betting platforms that use cryptocurrencies will persist.

Betting Activity Persists

Local media reports said users have still been reaching the platform through alternative means and placing bets on Singapore-focused events. Recent activity has included wagers on daily temperature readings, with average daily stakes in April exceeding $100,000. On April 17, nearly $125,000 had already been wagered by the evening cutoff, and most participants were backing a peak temperature of 33°C.

Polymarket works as a prediction market, where users buy “yes” or “no” shares tied to the outcome of real-world events. Winning positions are paid out in cryptocurrency. According to the website, users from Singapore are prohibited from participating in any transaction due to regulatory concerns. Singapore is one of over 30 countries subject to geoblocking restrictions.

Regulatory Concerns

It was reported that using cryptocurrencies and decentralized systems made it impossible to determine the location and identity of users. This statement came from Singapore’s Gambling Regulatory Authority, Infocomm Media Development Authority, and the Singapore Police Force in a statement made together.

This platform was officially blocked by the authorities in December 2024 because of the unlawful gambling activities offered by the platform, which is not legal for a company or person to gamble under local laws. Singapore has tight control over its remote gambling, where only Singapore Pools is authorized to offer gambling activities online.

Breaking through access blocks on purpose might land someone in legal trouble, officials say. Fines reaching SGD10,000 could apply, alongside half a year behind bars, maybe even both. What counts is intent: doing it knowingly risks violating the Gambling Control Act.

Wider Enforcement

The enforcement measures taken by the government against the practice of illegal gambling have been on the rise. K. Shanmugam once noted that a total number of 3,800 websites associated with illegal gambling had been blocked up to early 2025. Up to the year-end 2024, the government had also blocked a total of more than 145,000 illegal gambling transactions related to Singapore worth approximately SGD37 million.

The Polymarket website has previously been used for placing bets on important occasions in Singapore, such as the Formula 1 Singapore Grand Prix 2023, the Presidential Election, and the 2025 General Election. A total amount of approximately $720,000 was wagered in the 2025 General Election.

Global Scrutiny

This platform has gained attention from around the globe in recent times due to the heavy betting on geopolitical events like those relating to Iran in connection with the war between the United States and Israel. Polymarket is based in New York and is funded by prominent individuals such as Peter Thiel and Donald Trump Jr., who acts as the strategic advisor to Polymarket as well as Kalshi.

Kalshi is not only regulated by federal agencies but use fiat money in its deals. It is also blocked in Singapore.

Source: Asia Gaming Brief

Singapore Wagering on Polymarket Continues Despite Block

Betting Activity Persists

Regulatory Concerns

Wider Enforcement

Global Scrutiny

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