Singapore users are facing a major setback as they are unable to access Polymarket, a popular prediction market platform. This has caused an uproar among the users, who are claiming that the platform has been blocked by the authorities. According to reports, the reason behind this blockage is the Gambling Control Act 2022, which prohibits betting with unlicensed operators.

Polymarket, a decentralized prediction market platform, allows users to bet on the outcome of various events, such as political elections, sports matches, and even cryptocurrency prices. It has gained a lot of popularity in recent years, especially among the tech-savvy and crypto community in Singapore. However, the recent blockage has left many users disappointed and frustrated.

The Gambling Control Act 2022 was introduced to regulate and control the gambling industry in Singapore. It requires all operators to obtain a license from the authorities in order to offer their services to the public. This is to ensure that the operators are following strict guidelines and regulations to protect the interests of the users. However, Polymarket does not fall under the category of traditional gambling, as it operates on a decentralized platform and does not involve any physical or monetary transactions.

The users are now questioning the decision to block Polymarket, as they believe it does not fall under the jurisdiction of the Gambling Control Act. They argue that the platform is simply a prediction market and does not involve any form of gambling. Many are also concerned about the impact this blockage will have on the growth of the prediction market industry in Singapore.

The authorities have not yet released an official statement regarding the blockage of Polymarket. However, the users are hopeful that the issue will be resolved soon and they will be able to access the platform again. In the meantime, they are exploring alternative prediction market platforms and keeping a close eye on any updates from the authorities.