Singapore Bets Surge on Polymarket Despite Blocked Access

Despite being officially blocked in Singapore since late 2024, Polymarket continues to attract substantial wagering activity from users in the region. The platform, a cryptocurrency-based prediction market, has seen a notable uptick in bets tied to Singapore-focused events, including daily temperature predictions. Recent data shows that in April 2026 alone, more than $100,000 was wagered daily, with participants heavily betting on temperature outcomes, including a popular prediction on reaching 33°C on April 17.

Polymarket, which allows users to buy shares based on “yes” or “no” answers to real-world events, has continued to operate despite being geo-blocked for Singaporean users. In Singapore, Polymarket’s offering was deemed to violate local gambling laws, which prohibit unauthorized gambling platforms. The site uses cryptocurrency for transactions, making it difficult for regulators to track user identities and locations, which poses ongoing enforcement challenges.

Authorities in Singapore have remained firm in their stance, issuing a reminder that bypassing the blocking measures could lead to legal consequences. Under the Gambling Control Act, those found deliberately circumventing restrictions could face fines of up to SGD10,000 ($7,800), imprisonment of up to six months, or both.

Challenges for Singapore Regulators and the Use of Cryptocurrency

Polymarket’s use of cryptocurrency wallets has raised significant concerns for Singapore’s regulatory authorities, as it complicates the process of verifying the location and identity of users. While the government has implemented a geo-blocking system to prevent access, Singapore’s authorities acknowledge the challenges in fully eliminating access to such platforms. A joint statement from the Gambling Regulatory Authority, Infocomm Media Development Authority, and Singapore Police Force emphasized that “no blocking method is foolproof,” reflecting the persistent difficulties in curbing illegal online gambling activities.

While Polymarket remains inaccessible to users directly accessing the platform from Singapore, its ability to continue attracting significant betting volumes underscores the limitations of enforcement against decentralized platforms. According to The Straits Times, the platform has hosted markets on a wide range of Singapore-related events, including the Formula 1 Singapore Grand Prix, the 2023 Presidential Election, and the 2025 General Election, with the latter drawing nearly $720,000 in total wagers.

Polymarket’s appeal extends beyond local events, as the platform has also attracted significant interest for international and geopolitical events, such as betting markets related to Iran before military actions involving the United States and Israel. This global focus has drawn increased scrutiny from both local and international regulators, highlighting the growing concerns surrounding the rise of decentralized online gambling.

In response to these concerns, Singapore’s regulatory bodies have intensified efforts to block illegal gambling sites, with over 3,800 websites shut down as of early 2025. The government reported that by the end of 2024, more than 145,000 illegal gambling transactions were blocked, with an estimated total value of SGD37 million ($29.1 million).

Polymarket’s Investor Backing and Future Prospects

Polymarket is based in New York and has secured significant backing from high-profile investors, including Peter Thiel and Donald Trump Jr. The latter also serves as a strategic adviser to both Polymarket and Kalshi, another prediction market platform. Unlike Polymarket, Kalshi is federally regulated in the United States and conducts transactions in U.S. dollars, but it too is blocked in Singapore.

As Polymarket continues to operate and attract users in jurisdictions where it remains unregulated, the platform’s future remains uncertain in Singapore, where the government is committed to restricting illegal gambling operations. Despite these efforts, Polymarket’s persistent activity highlights the challenges faced by regulators in keeping up with the rapidly evolving landscape of online gambling.