The predictions market attracted attention on social media in Indonesia after a bet opened on when Prabowo would be ‘out as president’
Gambling is illegal in Indonesia and authorities have been clamping down on online betting.
“The government will not allow any form of online gambling in Indonesia,” the ministry said in a statement.
Ministry official Alexander Sabar late on Friday said Polymarket was classified as an online gambling platform and its activities “contain betting and speculation over events that are inconclusive”, therefore violating Indonesian law.
Polymarket said on Tuesday that the company was committed to engaging with authorities.
“We welcome the opportunity to collaborate with Indonesia on a path forward that supports responsible innovation, transparency and user protection in prediction markets,” it said.
Source: News - South China Morning Post
