Thailand proposes ban on Polymarket to combat online gambling

hai cybercrime authorities plan to propose a ban on decentralized prediction market Polymarket, as it may be seen as an online gambling site, which is illegal in the country. The Thai cybercrime investigation bureau said that suspending Polymarket is crucial to prevent the public from becoming victims of online gambling and to prevent the use of cryptocurrencies for illegal activities, as such activities "may have a serious impact on the economy and society." The cyber police said that the website provides convenience for global event betting through cryptocurrencies, which may be considered illegal online gambling in Thailand. The police did not specify a timeline for the possible shutdown.