Thailand Proposes Ban on Polymarket in Online Gambling Crackdown

Recently, Thailand’s Cyber Crime Investigation Bureau has announced that it will propose a ban on Polymarket, claiming the platform enables illegal online gambling using cryptocurrency. Notably, TCSD commander Trairong Phiwpaen emphasized the need to suspend Polymarket to prevent online gambling and crypto misuse, which could lead to significant economic and social risks. While the timeline for the proposed shutdown is unclear, officials are focusing on quick action to protect citizens and prevent exploitation. Just recently Singapore blocked access to the platform, deeming it an “illegal gambling site” under the Gambling Control Act 2022.