Why Has Singapore’s MAS Banned Crypto Prediction Platform Polymarket?
On 13 January 2025, Singapore officially banned the operation of Polymarket, a prominent crypto-based prediction platform. Singapore’s Monetary Authority (MAS), the country’s central bank and financial regulator, cited several reasons for the ban. Polymarket was reportedly operating without the necessary licenses required under Singapore’s Payment Services Act. This legislation mandates that entities offering payment or … Read more