Indonesia blocks Polymarket, calling prediction market online gambling in disguise
60-second summary
Indonesia's authorities block Polymarket, a prediction market, citing it as online gambling in disguise. They argue that using cryptocurrency or blockchain doesn't change the nature of platforms that allow users to wager on uncertain outcomes. This move reflects the country's stance on regulating online gambling, which could impact the adoption of decentralized prediction markets globally, affecting the crypto industry's growth.
Authorities stated that using crypto or blockchain doesn't change platforms that let users wager on uncertain outcomes from being gambling products.