The local gaming regulator classifies prediction markets as gambling, which requires a license. In addition to operating without a license, Polymarket and Kalshi lack mechanisms for controlling access for minors. The block is currently temporary, pending a final decision expected within three to four months. This week, Indonesia also blocked Polymarket. This occurred a few days after it began accepting bets on the early resignation of President Prabowo Subianto. The trading volume reached $46,000, with an 18% probability of the president stepping down by the end of the year. In response, the Indonesian regulator blocked Polymarket, labeling it an online gambling site disguised as a prediction market.
News Regulation
Spain has blocked Polymarket and Kalshi and initiated a criminal case against them.
The local gaming regulator classifies prediction markets as gambling, which requires a license. In addition to operating without a license, Polymarket and Kalshi lack mechanisms for controlling access...