TLDR Singapore users continue placing bets on Polymarket despite the platform being blocked since December 2024 Daily wagers on Singapore-focused events like temperature readings have exceeded $100,000 in April Authorities warn that bypassing access blocks can result in fines up to SGD10,000 and six months in jail Over 145,000 illegal gambling transactions worth SGD37 million were blocked by end of 2024 Polymarket operates using cryptocurrency payouts, making it difficult for regulators to track users
Betting activity on Polymarket linked to Singapore has continued to grow even though the platform has been officially blocked in the country since December 2024.
Users have been finding ways around the restrictions to place wagers on local events. The trend raises ongoing questions about how governments can enforce bans on offshore crypto-based betting platforms.
Singapore authorities blocked Polymarket in late 2024 due to what they called unlawful gambling activities. Under local law, it is illegal for individuals or companies to gamble through unauthorized platforms. Singapore Pools remains the only entity allowed to offer online gambling services.
Despite the ban, local media reports say users are still accessing the platform through alternative means. Recent betting activity has centered on seemingly mundane events like daily temperature readings in Singapore.
Crypto-Based Betting Makes Enforcement Difficult
Average daily stakes on these temperature markets exceeded $100,000 in April. On April 17 alone, nearly $125,000 had been wagered by the evening cutoff. Most bettors were backing a peak temperature of 33°C.
Polymarket functions as a prediction market. Users buy “yes” or “no” shares tied to real-world outcomes. Winning positions are paid out in cryptocurrency.
The use of crypto and decentralized systems has made enforcement a challenge. Singapore’s Gambling Regulatory Authority, Infocomm Media Development Authority, and the Singapore Police Force issued a joint statement acknowledging the difficulty of identifying