Following Singapore, Thailand's cybercrime authorities plan to propose banning decentralized prediction market Polymarket because it may be considered an online gambling site, which is considered illegal in the country. The Thai Cyber Crime Investigation Bureau said that the temporary ban on Polymarket is crucial to prevent the public from becoming victims of online gambling and to stop the use of cryptocurrencies for illegal activities, which "may have serious economic and social impacts." Cyber police said that the website facilitates betting on global events through cryptocurrencies, which may be illegal online gambling in Thailand.
At present, the police have not stated the exact time of the closure. (TheBlock)