📍 Singapore's Gambling Regulatory Authority (GRA) has blocked access to Polymarket, a crypto predictions platform, citing it as an "illegal gambling site" under the country's Gambling Control Act 2022.
📍 Polymarket has faced regulatory scrutiny in multiple jurisdictions, including a $1.4 million settlement with the US CFTC in 2022, and an FBI raid on its CEO's apartment in November, amid allegations of "political retribution."
📍 Despite regulatory challenges, Polymarket's user base continues to grow, with 349,500 monthly active users in December, up from 293,700 in November, according to data from Dune Analytics.
📍 In other news, the global crypto market has reached a new all-time high, with Bitcoin trading at $94,467 and Ethereum at $3,239, amid a surge in investor interest and adoption of digital assets.