Thai authorities noted the decentralized prediction marketplace’s operations fall under illegal online gambling, which is banned.

Singapore and Thailand have moved to block prediction markets platform Polymarket, adding to the regulatory hurdles facing the venue that surged in popularity during the US election.

The city-state's Gambling Regulatory Authority tells local ISPs to stop access to the leading prediction market.

Thailand investigates Polymarket, labeling it illegal due to cryptocurrency gambling as regulatory actions aim to ban site.

Thailand’s law enforcement agency announced they planned to ban Polymarket. The authorities added the gambling website exposed consumers to illegal activities.

Polymarket faces proposed bans in Thailand and Singapore due to allegations of facilitating illegal online gambling through cryptocurrency. The platform has also been scrutinized in Taiwan, France, and the United States for similar reasons.

Thailand has joined the growing list of countries cracking down on Polymarket, the crypto-powered prediction platform. Authorities announced plans to ban the platform, accusing it of “facilitating illegal online gambling.