Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Polymarket Reportedly Blocked in Singapore, Escalating Global Regulatory Challenges

Source Beincrypto

Polymarket, a blockchain-powered prediction market, has been reportedly blocked in Singapore because the authorities classify it as a gambling platform.

This marks another significant challenge for the platform, which is already under regulatory scrutiny in the United States.

Why Did Singapore Block Polymarket?

On January 12, Alex Zuo, Vice President of Investment and Custody at Cobo Global, revealed on X (formerly Twitter) that Singapore has officially designated Polymarket as a gambling site. This classification has led to restrictions on access within the country.

Zuo stated that individuals in Singapore must place bets only through state-authorized gambling operators. Those who fail to comply risk facing fines or imprisonment.

“Polymarket is officially defined as a gambling website in Singapore. If you want to place a bet, you can only go to a state-owned gambling company, otherwise you will face fines and imprisonment,” Zuo said.

Zuo shared screenshots showing that visitors trying to access Polymarket in Singapore receive warnings. Authorities warn users to avoid unlicensed gambling services, threatening penalties of up to $10,000, six months in jail, or both.

Polymarket, launched in 2020, is known for its unique approach to aggregating public opinion and real-time data. It allows users to wager on outcomes of current events, such as elections and natural disasters. The platform has attracted high-profile backers, including billionaire investor Peter Thiel.

Broader Regulatory Pressure

Polymarket’s challenges are not confined to Singapore. The platform has faced significant regulatory pressure in other jurisdictions, including France and the United States.

In France, the National Gaming Authority (ANJ) has been investigating Polymarket’s operations. This inquiry was triggered after a French user placed substantial bets on the 2024 US presidential election. French laws strictly regulate online gambling, permitting only certain sports betting and poker activities.

In the United States, Polymarket has faced even greater scrutiny. The Commodity Futures Trading Commission (CFTC) recently subpoenaed Coinbase, seeking information about user interactions with Polymarket.

This follows a $1.4 million fine imposed on the platform by the CFTC for allegedly offering unregistered prediction markets. As part of a settlement, Polymarket agreed to cease operations for US users.

Still, the US Department of Justice has launched its own investigation, alleging that Polymarket may have accepted trades from US users despite the settlement agreement. The FBI has also searched the devices of CEO Shayne Coplan as part of the inquiry.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

The Fed will sit still on October 28 — but 100 of 100 economists now expect a December hike A Reuters poll run October 16-20 found 94 of 100 economists expecting the Fed to hold at 3.75-4.00% on October 28 — and all 100 expecting a hike in December, against less than half a month earlier. The market is close to the same price, with CME FedWatch at roughly 17% for October and 82.8% for December. With the Fed in blackout since October 17, here are the five dates that decide the rest of the year, what each one is priced for, and the two directions each can take.

Author Irene Q.

Oct 22, Thu

A Reuters poll run October 16-20 found 94 of 100 economists expecting the Fed to hold at 3.75-4.00% on October 28 — and all 100 expecting a hike in December, against less than half a month earlier. The market is close to the same price, with CME FedWatch at roughly 17% for October and 82.8% for December. With the Fed in blackout since October 17, here are the five dates that decide the rest of the year, what each one is priced for, and the two directions each can take.

Nasdaq closes at 26,008.86 — 8.9 points above 26,000, and the credit market never blinked The Nasdaq Composite fell 2.60% to 26,008.86 on October 22, its worst session since June, as Meta sank 6.98% on 2026 capex guidance of $135–145 billion. But the equal-weight S&P 500 rose 0.73%, high-yield credit was flat and 10-year yields fell 20 basis points. This was an AI de-rating, not a risk-off event — here is the transmission chain, the 29,000 / 28,200 levels and what would prove it wrong.

Author Irene Q.

Oct 23, Fri

The Nasdaq Composite fell 2.60% to 26,008.86 on October 22, its worst session since June, as Meta sank 6.98% on 2026 capex guidance of $135–145 billion. But the equal-weight S&P 500 rose 0.73%, high-yield credit was flat and 10-year yields fell 20 basis points. This was an AI de-rating, not a risk-off event — here is the transmission chain, the 29,000 / 28,200 levels and what would prove it wrong.

Brent tops $113 on Saudi supply risk — but the diesel line in the EIA report is the tell Brent's December contract settled at $113.17 on October 22, up 4.00% and the highest close since May 4, after Saudi Arabia restricted refined-product shipments. The same session's EIA report showed crude stocks down 3.06 million barrels and gasoline down 2.95 million — but distillates built 1.68 million. That single line decides whether $113 holds: here are the data, the 108.8 / 114.0 / 119.3 levels and the two scenarios.

Author Irene Q.

Oct 23, Fri

Brent's December contract settled at $113.17 on October 22, up 4.00% and the highest close since May 4, after Saudi Arabia restricted refined-product shipments. The same session's EIA report showed crude stocks down 3.06 million barrels and gasoline down 2.95 million — but distillates built 1.68 million. That single line decides whether $113 holds: here are the data, the 108.8 / 114.0 / 119.3 levels and the two scenarios.

Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 26, 2026 Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 26, 2026. Read on for the details.

Author Mitrade

7 hours ago

Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 26, 2026. Read on for the details.

Gold breaks $4,000 as oil becomes the inflation problem — $3,943 is the line that matters Spot gold closed at $3,995.6 on October 23, down about 4.1% for the week and at its lowest since mid-July, and traded near $3,988 on October 26 even as Brent crude settled at $116.72 and Middle East supply risk stayed elevated. The war premium stopped working because oil is now the inflation trade: December Fed hike odds are 68.9% and the 10-year yield is 4.988%. Here are the three numbers, the transmission chain, and the July low at $3,943 that decides whether this is a bottom or a bigger correction.

Author Irene Q.

2 hours ago

Spot gold closed at $3,995.6 on October 23, down about 4.1% for the week and at its lowest since mid-July, and traded near $3,988 on October 26 even as Brent crude settled at $116.72 and Middle East supply risk stayed elevated. The war premium stopped working because oil is now the inflation trade: December Fed hike odds are 68.9% and the 10-year yield is 4.988%. Here are the three numbers, the transmission chain, and the July low at $3,943 that decides whether this is a bottom or a bigger correction.

Popular Symbols