The Indonesian government has banned the prediction market platform Polymarket, citing illegal online gambling.

CoinFeed reported on May 25 that, according to Reuters, Indonesia's Ministry of Communications and Digital Affairs recently banned the prediction market platform Polymarket, deeming it an online gambling platform for offering "bets and speculation on events that are not yet settled," violating local laws. Previously, Polymarket launched a betting market on when President Prabowo Subianto would "step down," whose term is originally scheduled to end in 2029. This contract went live the day after Prabowo announced plans to centralize controls on exports of commodities such as coal and palm oil, sparking discussion on local social media. Indonesian authorities also stated that they are investigating all social media accounts associated with Polymarket.