Indonesia Blocks Polymarket After Bets on Prabowo's 2029 Tenure Trigger Gambling Crackdown
Updated
Updated · Bloomberg · May 25
Indonesia Blocks Polymarket After Bets on Prabowo's 2029 Tenure Trigger Gambling Crackdown
1 articles · Updated · Bloomberg · May 25
Indonesia blocked access to Polymarket after a market on whether President Prabowo Subianto would leave office before his 2029 term ends spread widely on social media.
The Communications and Digital Ministry said prediction markets that let users wager on event outcomes are still classified as online gambling, regardless of how the platform is labeled.
Authorities also said they will track social media accounts promoting Polymarket, widening the response beyond the site itself.
The move shows how a politically sensitive contract tied to Prabowo's tenure quickly escalated into a broader enforcement action against online betting platforms.
As insider trading allegations emerge, can prediction markets survive as legitimate financial tools?
When a bet on a president triggers a national ban, is it gambling or censorship?