Blocked gambling site sees surge in Singapore-related bets

SINGAPORE – Despite being blocked in Singapore since late 2024, a gambling platform that allows users to place bets on future events remains accessible here through alternative means.

Checks by The Straits Times show that Polymarket has seen a surge in bets related to the Republic in recent weeks, with punters staking their money on, for instance, Singapore’s daily temperature since March 13.

In April, an average of more than US$100,000 (S$127,000) was wagered each day, as users bought “yes” or “no” shares tied to a specific temperature.

On April 17, nearly US$125,000 had been wagered by the 8pm deadline. Most people had bet that the daily mercury would read 33 deg C at its hottest.

Those who bet correctly receive payouts in cryptocurrency. In this case, the payouts are credited daily.

According to information on its website, the subjects of the bets are selected by the platform’s markets team, after taking into account input from users.

Polymarket’s website says users in Singapore are not allowed to place bets because of geographical restrictions and regulations. It actively restricts accounts from 33 places, including Singapore, based on a list on its site.

Even so, as financial transactions on the platform are made through cryptocurrency wallets, it is difficult to ascertain the identities of individual punters.

Other Singapore-related topics that previously featured on the platform for wagers include the annual Singapore Grand Prix, the 2023 Presidential Election and the 2025 General Election, which saw close to US$720,000 in bets placed.

In response to queries, the Gambling Regulatory Authority, Infocomm Media Development Authority and police told ST on April 17 that “no blocking method is foolproof”.

Access to the site by Singapore-based users has been blocked since December 2024, after an assessment determined that it was providing unlawful gambling services.

Reiterating that Singapore Pools is the only operator licensed to provide remote gambling services in Singapore, the authorities said any other operators offering such services – including those that allow users to wager money on the outcome of an event or process – are unlawful.

They added that those who “deliberately circumvent the Government’s blocking measures do so at their own risk”, and may be considered as having committed an offence under the Gambling Control Act.

If convicted, individuals can be fined up to $10,000 or jailed up to six months, or face both penalties.

Home Affairs Minister K. Shanmugam said in a written parliamentary reply in January 2025 that the Ministry of Home Affairs had blocked access to more than 3,800 illegal gambling websites.

As at Dec 31, 2024, more than 145,000 illegal gambling transactions involving people in Singapore were blocked, with the amount totalling about $37 million.

The anonymity Polymarket affords through cryptocurrency wallets brought it under scrutiny lately after millions of dollars were wagered on Iran-related events, shortly before the Islamic republic was struck by the US and Israel.

Headquartered in New York City, the platform is backed by individuals and companies with ties to the Trump administration, including billionaire Peter Thiel – co-founder of artificial intelligence software firm Palantir Technologies – and Mr Donald Trump Jr’s 1789 Capital.

The son of the US President also acts as a strategic adviser to Polymarket and Kalshi, another prediction market.

Unlike Polymarket, Kalshi is federally regulated in the US, allowing its users to make transactions in US dollars.

It is blocked in Singapore, and attempts to access the website are met by a warning that suspected illegal gambling activity is detected.