Indonesia blocks Polymarket after bets on president’s exit

[rbynxx]

I guess more countries will ban Polymarket.

But will people in these countries will not continue to use the site because it has no KYC?

I can see it coming because even at this stage they'll still not be bothered that it was indeed a gambling platform. Nah, probably some will bypass such things but it's their risk if they'll get caught by the authority. They are operating without a license on someone's jurisdiction, they should adhere to what they'll demand, it's not that you'll demand over them. I can't really understand that founders still arguing the fact that a lot of countries already sees it as such and they aren't that blind.

I think only the CFTC thinks it was not or they have other matters that's pressing that they call them just prediction market. Even in sports, predicting an outcome is definitely gambling. PVP or PVE as long as there's money involved I will definitely label that as gambling.

[stompix]

This is going to be funny...
If ISPs actually start enforcing this and not just surface block it will start huting VPNsand routing traffic, you will have to keep a list of countries to select your VPN to access it, if they stick just to the simple dns block, it will be no issue, actively blocking routing traffic for every single ISP this is going to be funny.

I can already see VPN providers offering "polymarket servers" just as they advertise streaming servers right now!

[mu_enrico]

Haha. Do Indonesia has strict implementation of their ban on casino? Because in my country, Government just ban it through ISP but everything is accessible with VPN and DNS without any follow up check from our government to monitor this unregulated casino or exchange since the penalty for breaking it is not that serious.

Yes, pretty strict IMO, since they monitor/block multiple things. First, ISPs, as you may already be familiar with, and sure, it can be bypassed with a VPN. Second, which is more risky for players, they monitor the flow of money (banks, e-wallets, etc.), and there was an instance of the government blocking bank accounts: https://www.tempo.co/ekonomi/setelah-blokir-rekening-dormant-ppatk-akan-blokir-e-wallet-terindikasi-judi-online-2058065

Yeah, Polymarket can mask itself as an exchange, but unregistered offshore exchanges are also blocked here, so it doesn't really matter.

[viljy]

If they were really blocked just because of this bet under the pretext of a "gambling site", then this can only ruin the president's rating. Because it shows how acutely the government reacts to a trifle (for any significant political figure, this is a trifle). Judging by the comments on this bet, people continue to stay there, meaning blocking the Polymarket has had nothing but the exact opposite effect. Perhaps the opposition used the Polymarket for their own purposes and not unsuccessfully. By the way, the more bans there are, the more popular the Polymarket will be.

[ZeroVinsonN]

Does blocking polymarket solve the issue, are they actually after prediction market or gambling itself, I also don't see a reason why they should assume that prediction market is the same as gambling, you have to come on the right perspective regarding this issue and face the reality on what they needed to do about pulling markets and not gambling, I'm not against them blocking polymarket, but this shouldn't be treated the same way as gambling.

I don't think the block is about gambling though I did not read the article so I don't have all the information but from the context I can gather the ban was because people were betting on their president leaving office, for someone who is probably still planning on running for office again that is really bad publicity and the sitting government can have any of that, so instead they shut down anything that can add to the likelihood of them losing the next election.

[LastKiss]

If they were really blocked just because of this bet under the pretext of a "gambling site", then this can only ruin the president's rating. Because it shows how acutely the government reacts to a trifle (for any significant political figure, this is a trifle). Judging by the comments on this bet, people continue to stay there, meaning blocking the Polymarket has had nothing but the exact opposite effect. Perhaps the opposition used the Polymarket for their own purposes and not unsuccessfully. By the way, the more bans there are, the more popular the Polymarket will be.

People who already play there will keep finding ways to continue playing even though the government has already banned Polymarket, if they are already addicted the ban will become useless. It’s true that many people sharing the news makes others curious about what Polymarket is but if that curiosity lasts long enough, they will eventually find ways to check it out and probably try playing there.

I don’t think it will ruin the president’s rating when the government bans Polymarket because Indonesia has already regulate gambling as an illegal activity. People in society who dislike gambling will also support what the government did against Polymarket and it will further worsen gamblers image in society, making it even harder for gambling to become legal in Indonesia.

[EluguHcman]

If they were really blocked just because of this bet under the pretext of a "gambling site", then this can only ruin the president's rating. Because it shows how acutely the government reacts to a trifle (for any significant political figure, this is a trifle). Judging by the comments on this bet, people continue to stay there, meaning blocking the Polymarket has had nothing but the exact opposite effect. Perhaps the opposition used the Polymarket for their own purposes and not unsuccessfully. By the way, the more bans there are, the more popular the Polymarket will be.

Or probably the authorities behind the bans want to tell the public that they are trying to control the chaotic political effects the event of betting on the presidents exit would cause in the political race while the opposition uses the opportunity as a tool of his own interest.

It is still overwhelming what could prompt the motive of the ban and perhaps these authorities should at least for once tell the public where the poly markets goes wrong with this kind of events features instead of taking all these blind actions for no just cause.
Well... Let us assume that it is all just politicized.

[danherbias07]

Yes, that's the purpose of the ban. No person in Indonesia will have access to that website without the use of VPNs. Well, maybe there's also a rule that if a person is caught using the service through the use of a VPN, they will face penalties and probably be fined an amount suggested by their government.

This is big. Indonesia is one of the countries that is growing when it comes to online entertainment. Games, developers, and other services on the internet. It's like Polymarket is getting cornered slowly until maybe 5-10 countries are the only ones allowed to use their service. If they have a big plan, I think this is the time to let it out. Becuase this is all bad news for them.

[letteredhub]

This just the beginning for the ban on polymarket predictions just as I have previously stated that many more countries would do the needful one after another. Even some of the events and situations they place predictions on could actually trigger the government attention to be forced to declare a ban on them.
Though the ban may not stop the country people where it's ban from still having access to the site through some bypass tools but it's definitely gonna cause a traffic shortage as the ban would diminish it's supposed popularity in that country.

[SamReomo]

But will people in these countries will not continue to use the site because it has no KYC?

Yes, most of the people who use Polymarket now will continue using it even if it's banned in their respected countries because it doesn't require any KYC and is promoted as a prediction market not as a gambling site. Casinos and gambling sites have to own license and extra and they've to follow legal structure of KYC but since Polymarket is promoted as a prediction market it doesn't legally fall in domain of casinos or gambling sites. I personally think that overtime Polymarket and other prediction markets will gain many new users despite getting banned in some countries. 

[Agbamoni]

I guess more countries will ban Polymarket.

I said it the last time the polymarket discussion was brought up in this board. Polymarket will get banned by most countries, and it is going to start very well in Asia. Most countries recently imposing a ban on Polymaret are Asian countries because they have high cases of illegal gambling activities going on in the country and a large number of bettors. Since Polymarket has low regulation, it is going to be a big problem for its society.

[Botnake]

This is not new for me knowing Indonesia holds strict and absolute prohibition towards gambling, offline or online. And since Polymarket is still classified as a form of online gambling, hence Polymarket is expected to be blocked and banned in the country of Indonesia, or any country that is carried by Islamic Sharia law.

This is just the start, from South Korea where gambling is seen as highly restrictive, though with exceptions, and now Indonesia who has now made it clear that Polymarket is just another form of online gambling. More countries are now expected to block Polymarket, especially those who have set high standards to never allow gambling in their own country or state.

[Strongkored]

Indonesia’s Ministry of Communication and Digital Affairs (Komdigi) announced the block on Friday, describing Polymarket as an “online gambling site disguised as a prediction market.

Yiu can read about it on https://cointelegraph.com/news/indonesia-blocks-polymarket-bets-presidents-exit

Indonesia is a country that prohibits gambling, even exchange websites like Binance have been banned by the country.
So, the ban on Polymarket is not surprising, as prediction market is similar to gambling, even though some consider it different.
However, if the reason is after bets on the president's exit? That seems to be a different story.

[lionheart78]

Indonesia’s Ministry of Communication and Digital Affairs (Komdigi) announced the block on Friday, describing Polymarket as an “online gambling site disguised as a prediction market.
....
But will people in these countries will not continue to use the site because it has no KYC?

Even with KYC, I still think Indonesia will still ban Polymarket because they already labeled it as an online market and in Indonesia, gambling is illegal.  But sure, people will go underground, they will still access and trade event contracts on Polymarket.  I do not think this blocking will ever affect the access to platform activity unless the Indonesian government will aggressively trackdown people who are betting on the platform and punishes them or implement penalty.

I guess more countries will ban Polymarket.

If a muslim country sees the activities on Polymarket as gambling, then yes, these Muslim countries will definitely ban Polymarket.

[Taskford]

Indonesia’s Ministry of Communication and Digital Affairs (Komdigi) announced the block on Friday, describing Polymarket as an “online gambling site disguised as a prediction market.

Yiu can read about it on https://cointelegraph.com/news/indonesia-blocks-polymarket-bets-presidents-exit

Indonesia is a country that prohibits gambling, even exchange websites like Binance have been banned by the country.
So, the ban on Polymarket is not surprising, as prediction market is similar to gambling, even though some consider it different.
However, if the reason is after bets on the president's exit? That seems to be a different story.

Its justifiable action especially in their religion gambling is strictly prohibited.

I think that political betting in that country just trigger the intention of Indonesian government to ban that platform.

Seems that we could see more banning from Polymarket, since their platform is so controversial and many government institution see their existence as illegal and prone of market manipulation and other illegal matters.

[boltz]

That's wild ...there's no way Polymarket will continue to be legal on politics because there's no way a market will be able to put or dismiss presidents based on bets and predictions as that is plain stupid.

Personally , I can't trust polymarket at all and it's absurd to see how manipulated markets are there and how many non-sense markets are being displayed there. I would give Polymarket around 3 years until next big wave of elections will come across the world and that is where the politics betting will most likely be forbidden.

[Dr.Bitcoin_Strange]

They call themselves trading platforms but they are not only trading assets, they allow people to bet on so many events which by right is only supposed to be on gambling platform, so it means they are also gambling platform. When the first country banned them, someone created the topic here and as I read through the article, I believe the same reason will also make other countries to ban it and like I said then, we now have more than 8 countries that has banned them and the number will still increase because of how they are getting exposed of insider trading.

[ene1980]

~
we now have more than 8 countries that has banned them and the number will still increase because of how they are getting exposed of insider trading.

If someone is seriously using Polymarket and other decentralized alternatives, the lack of KYC makes it easier to bypass these restrictions. As long as Polymarket is not restricting your country in its sanctioned jurisdictions, there is nothing to worry about, as they have already restricted access from 34 countries.