Indonesia, the world’s fourth most populous nation and Southeast Asia’s largest economy, has moved to block Polymarket, the popular blockchain-based predictions platform, over concerns tied to online gambling, Reuters reported on Monday.
The ban came days after the site hosted a wager on whether Indonesian President Prabowo Subianto would leave office before his term expires in 2029.
Alexander Sabar, the country’s communications and digital ministry said Polymarket violates Indonesian law because it allows betting and speculation on uncertain events. Gambling is prohibited in Indonesia, where officials have been tightening enforcement against online betting activity.
The market that triggered the response
The controversial market appeared on Polymarket on May 21, one day after Prabowo unveiled a plan to centralize government control over Indonesia’s most valuable commodity exports, including coal and palm oil. The administration’s economic policies have come under increased investor scrutiny this year.
