Indonesia blocks Polymarket over Prabowo presidency bets

Indonesia has blocked the predictions market Polymarket, citing a crackdown on online gambling after the site took bets on a premature end to President Prabowo Subianto's presidency. The Ministry of Communications and Digital Affairs announced the move late Friday, with official Alexander Sabar stating that Polymarket's activities constitute illegal gambling under Indonesian law because they involve betting on inconclusive future events. Gambling is strictly prohibited in Indonesia, and authorities have intensified enforcement against online betting platforms. The ban follows social media attention on Polymarket after a bet opened on when Prabowo would be 'out as president,' drawing regulatory scrutiny.

Polymarket responded on Tuesday, saying it is committed to engaging with Indonesian authorities and welcomes collaboration on a path forward that supports responsible innovation, transparency, and user protection in prediction markets. The platform, known for allowing users to bet on political, financial, and sports outcomes using cryptocurrency, now faces a significant regulatory barrier in Southeast Asia. This action reflects growing global tensions between prediction markets and local gambling laws, with Indonesia taking a hardline stance. The development underscores the challenges for decentralized platforms operating across jurisdictions with differing legal frameworks.