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.

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.

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

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