The Indonesian Ministry of Communication and Information Technology has blocked access to the Polymarket platform, equating it to an online casino.
The ban was prompted by bets on the early resignation of President Prabowo Subianto. One market offered wagers on the leader stepping down before the end of 2026, despite his term ending in 2029. Trading volume for this market exceeded $46,000. The ministry emphasized that any form of online gambling is prohibited in the country.
“Polymarket’s activities involve betting and speculation on uncertain outcomes. This violates Indonesian laws,” said ministry representative Alexander Sabar.
The ministry added that the decision aims to “protect the youth and users of the national digital space.”
Indonesia joins a growing list of countries that view prediction markets as gambling tools. Previously, India restricted access to Polymarket. The platform is unavailable in over 30 jurisdictions.
Supporters of the platform argue that Polymarket is a tool for gauging public sentiment, while regulators express concerns over market manipulation and insider trading. In light of this, the project team plans to seek official licenses to operate in several countries, including Japan.
It’s worth noting that on May 22, Polymarket confirmed a compromise of its private key, with on-chain analysts estimating the damage at around $700,000.