Thailand has joined the growing list of countries cracking down on Polymarket, the crypto-powered prediction platform. Authorities announced plans to ban the platform, accusing it of “facilitating illegal online gambling.

Thai authorities noted the decentralized prediction marketplace’s operations fall under illegal online gambling, which is banned.

Singapore and Thailand have moved to block prediction markets platform Polymarket, adding to the regulatory hurdles facing the venue that surged in popularity during the US election.

Thailand investigates Polymarket, labeling it illegal due to cryptocurrency gambling as regulatory actions aim to ban site.

The city-state's Gambling Regulatory Authority tells local ISPs to stop access to the leading prediction market.

Polymarket faces mounting pressure as global regulators probe it for handling multimillion-dollar political wagers.