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 users’ locations and identities.
Officials have warned that deliberately bypassing access blocks could lead to legal consequences. Fines of up to SGD10,000 may apply, along with up to six months in prison, or both. The key factor is intent, as knowingly circumventing the ban risks violating the Gambling Control Act.
The government has been stepping up its broader crackdown on illegal gambling. Law Minister K. Shanmugam stated that around 3,800 websites tied to illegal gambling had been blocked by early 2025.
By the end of 2024, authorities had also blocked more than 145,000 illegal gambling transactions connected to Singapore. Those transactions were worth roughly SGD37 million.
Polymarket Has Attracted Bets on Major Singapore Events
Polymarket has previously hosted markets tied to high-profile Singapore events. These include the Formula 1 Singapore Grand Prix in 2023, the Presidential Election, and the 2025 General Election.
Around $720,000 was wagered on the 2025 General Election alone.
The platform has also drawn global attention for hosting markets on geopolitical events. These include betting activity related to Iran and tensions involving the United States and Israel.
Polymarket is based in New York. It has received funding from prominent figures including Peter Thiel. Donald Trump Jr. serves as a strategic advisor to both Polymarket and Kalshi.
Kalshi is a competing prediction market that is regulated by federal agencies and uses fiat currency. It is also blocked in Singapore.
Singapore’s approach to Polymarket reflects a broader pattern of governments trying to control access to decentralized platforms. According to Polymarket’s website, Singapore is one of more than 30 countries subject to geoblocking restrictions.
