Indonesia blocked access to Polymarket after the prediction market platform hosted wagers on whether President Prabowo Subianto would leave office before the end of his term. The action, announced by Indonesia’s Ministry of Communication and Digital Affairs (Kominfo), described Polymarket as an “online gambling site disguised as a prediction market.”

“The government will not allow any form of online gambling in Indonesia,” said ministry official Alexander Sabar, adding that activities like Polymarket involve betting and speculation on uncertain outcomes, thereby violating Indonesian law.

The move places Indonesia among jurisdictions that treat prediction markets as gambling products rather than forecasting tools, as platforms such as Polymarket and Kalshi face intensified legal scrutiny worldwide.

Key takeaways

• Indonesia’s Kominfo blocked Polymarket, labeling it an online gambling site that operates under the guise of a prediction market, aligning the platform with local gambling prohibitions.
• The trigger for the measure was Polymarket’s publication of a market tied to Prabowo Subianto’s presidency and potential early departure from office.
• Trading activity around the Indonesian political-outcome market reached over $46,000, with probabilities indicating a low but non-negligible chance of early exit by the president.
• The ministry framed the ban as a protective measure for the public and for those in the national digital space, particularly younger users.
• Indonesian action reflects a broader global trend of regulatory tightening on prediction markets, as policymakers weigh gambling classifications against forecasting utilities.

Indonesia’s legal rationale and enforcement action

The Kominfo statement made it clear that access to Polymarket and similar services would be blocked to prevent online gambling activities in the country. The ministry’s formal stance paints prediction markets as a vehicle for betting on uncertain outcomes, which conflicts with local law and public policy objectives. As cited by authorities, the intent is to shield consumers, especially younger users, from the perceived harms associated with online gambling in the digital space.

The enforcement action follows the emergence of a Polymarket market that allowed users to bet on whether President Prabowo Subianto would leave office before specified dates ahead of the end of his five-year term in October 2029. The market, introduced around May 21, presented multiple resolution dates, including May 31, June 30 and December 31, 2026, despite the incumbent term running for several more years. Reported trading volume exceeded $46,000, with implicit odds showing a roughly 1% probability for a May exit, about 2% for a June exit, and 18% by the end of 2026.

The ministry did not single out the Prabowo market by name in its statement but framed Polymarket generally as a platform facilitating online gambling. The action underscores how national regulators are increasingly scrutinizing online prediction marketplaces and, in some cases, treating them as gambling operations subject to local prohibitions and licensing regimes. The stance aligns with a broader pattern of enforcement that targets platforms offering markets tied to real-world political events or other sensitive outcomes that attract varying degrees of risk and manipulation concerns.

Prediction markets: a growing global regulatory debate

The Indonesian decision reflects a wider international context in which prediction markets face heightened regulatory risk. Proponents argue these platforms function as crowd-sourced forecasting tools and sentiment indicators, offering transparency and structured probability data for researchers and institutions. Critics counter that prediction markets can resemble gambling products and raise concerns about market manipulation, insider information, and consumer protection.

Several jurisdictions have tightened access or imposed restrictions on Polymarket and similar services. India has been cited as among the latest to restrict access, contributing to a multi-jurisdictional trend that has left Polymarket blocked in more than 30 countries at various times. Even as regulatory hurdles rise, Polymarket has signaled an interest in pursuing regulatory approvals in select markets, including Japan, highlighting a tension between enforcement actions and strategic market entry plans.

Industry observers note that policy debates around prediction markets often intersect with broader financial-law concerns, including anti-money-laundering (AML) and know-your-customer (KYC) requirements, licensing regimes, and cross-border oversight. In the United States, for example, regulatory commentary from agencies such as the CFTC has underscored tensions around the classification and oversight of prediction-related products, with some discussions prompting internal reviews and, in certain instances, personnel changes according to reports cited by media outlets.

From a regulatory design perspective, the ongoing discussion touches on how to balance innovation in forecasting tools with consumer protection, market integrity, and the risk of exploitation. The evolving policy framework is likely to influence how exchanges and prediction-market operators structure product offerings, thresholds for geographic access, and the degree of disclosure and compliance required to operate across borders. This is particularly salient for entities that seek licensing or formal recognition under regimes like the European Union’s MiCA framework, which is shaping how crypto-asset activities are governed and supervised within a single market, and for firms navigating U.S. regulatory expectations under the SEC, CFTC, and DOJ oversight.

Compliance, licensing, and operational implications for platforms

Regulators’ tightening stance on prediction markets has concrete implications for platform operators, financial institutions, and participants. For operators, the key challenges include achieving regulatory compliance across multiple jurisdictions, obtaining licenses where required, and designing products that mitigate risks of manipulation and insider trading. AML/KYC controls become central to maintaining compliant consent-based access, especially for markets tied to political events or other high-profile outcomes that could attract heightened scrutiny.

Financial partners and banks may also reassess relationships with platforms that facilitate online wagering or speculative markets on real-world events. Cross-border operations intensify the need for robust governance, transparent risk disclosure, and clear user terms that align with local gambling and consumer-protection laws. For policymakers, the central questions involve how to classify and regulate such platforms—whether as gambling services, forecasting tools, or a hybrid category—and how to harmonize oversight to prevent regulatory gaps that could be exploited by bad actors.

Industry participants and observers alike are watching how regulatory bodies translate broad policy objectives into concrete rules—licensing criteria, consumer safeguards, product disclosure standards, and enforcement mechanisms. In this context, the Indonesian case serves as a concrete example of national authorities exercising control over platforms that operate at the intersection of gaming and prediction benchmarking, with implications for global operators evaluating regional expansion and compliance roadmaps.

Closing perspective

The Indonesian action against Polymarket illustrates how regulators are increasingly willing to intervene at the platform level when online wagering on political outcomes surfaces in otherwise forecast-oriented services. As markets grow and cross-border activity intensifies, the alignment of product design with evolving legal and regulatory standards will be essential for platforms seeking legitimate access to global users, and for institutions seeking stable, compliant channels in a shifting policy landscape.

The Wadoozie Ethereum signal network activates today with a fair launch via Uniswap and a 48-state US road tour.

Wadoozie confirmed a May 27 fair launch for its $WADZ ERC-20 token on the Ethereum network, going live on Uniswap today with its tour bus rolling out from Austin. The launch carries no presale, no private round, no insider allocation, and zero taxes on both buy and sell sides.

Of the two billion tokens minted at genesis, approximately one billion were burned at launch, leaving an effective circulating supply of around one billion. Seventy-five percent of that supply is locked in a DAO-governed liquidity pool paired with ETH, with no individual or team wallet able to withdraw it.

What the Wadoozie signal network and road tour actually are

The project is structured around a 48-state US tour across eight narrative Acts, opening in Austin and closing in New Orleans before a planned European leg.

When the tour bus arrives in each state, seven physical Signal Fragments are placed in the field, one Legendary, one Rare, one Uncommon, and four Common.

Each fragment is redeemable on-chain for a fixed $WADZ payout, with Legendary fragments worth 461,250 tokens and Common fragments worth 15,375. A total of 576 fragments will be placed across all 48 states, distributing approximately 34.7 million $WADZ directly to community finders.

The token allocation gives 7% to a Publishers Network for creator payouts, 5% to the Signal Fragment prize pool, and 3% to the team, locked for 12 months. Smart contracts were audited by CertiK through Skynet, Coinsult, and SolidProof ahead of launch.

Crypto.news has tracked how speculative Ethereum meme token demand remains active in 2026 despite broader market headwinds. The Ethereum (ETH) price page tracks network conditions as the launch goes live today.

A crypto PAC affiliated with Fairshake has poured $5 million into a Texas congressional runoff ahead of Tuesday’s vote.

Protect Progress, an affiliate of the crypto-backed Fairshake PAC, spent $5 million supporting Democratic challenger Christian Menefee in Tuesday’s Texas 18th District runoff and a further $2.8 million opposing incumbent Al Green, according to Federal Election Commission filings. Fairshake reported $193 million cash on hand heading into 2026.

The Kalshi prediction market gave Menefee a 91% probability of winning, with Polymarket at a similar figure. Total betting volume on the parallel Texas Republican Senate race between Ken Paxton and John Cornyn topped $16 million, with Paxton holding roughly 96% odds following a Trump endorsement.

Why Green’s seat became a priority for Fairshake

Al Green has been among the more vocal crypto critics in Congress. He voted against both the GENIUS Act stablecoin bill and the Clarity Act, and Stand With Crypto awarded him an F grade. “I am an unbought, liberated, unafraid Democrat, unbought by crypto cash,” Green told colleagues on the House floor, accusing Menefee of making a “deal with the devil” by accepting Fairshake support.

Fairshake, backed primarily by Ripple Labs and Coinbase, also secured the endorsement of the Blockchain Leadership Fund, backed by Anchorage Digital and Chainlink Labs, in the Menefee race. Menefee was elected to Congress in a January 2026 special election and quickly became the industry’s preferred candidate over Green.

Crypto.news has covered the Clarity Act’s compressed legislative calendar heading into the 2026 midterms. The Texas result will be read as a signal of how far pro-crypto PAC spending can move congressional seats in contested districts.

Crypto.news has also reported on the US Treasury’s AML rules for stablecoin issuers under the GENIUS Act, the specific legislation Green opposed that made his seat a target. Crypto.news has also tracked the broader legislative push to institutionalise crypto policy that Fairshake’s congressional spending is designed to support.

Stablecoin issuer Tether and the government of Georgia plan to launch a stablecoin called “GELT” that would represent the Georgian lari under the country’s digital asset regulatory framework.

On Monday, Tether said the stablecoin is expected to support cross-border commerce and digital payments in Georgia. The company said GELT’s structure, rollout and regulatory implementation will be announced at a later stage.

The plan builds on Georgia’s recent efforts to develop rules for digital assets and stablecoins, including a framework covering reserve management, redemption rights, issuer oversight and Anti-Money Laundering compliance. In March, the National Bank of Georgia said it had developed rules for the initial offering of “stable virtual assets,” including requirements for full reserve backing, offering documents and external auditor verification. 

Georgian Prime Minister Irakli Kobakhidze said the partnership with Tether would help lay the foundations for a more connected and transparent financial world. National Bank of Georgia President Natia Turnava said the central bank welcomes the collaboration as part of its strategy to advance digital financial infrastructure. 

The announcement did not say who would legally issue GELT, where reserves would be held, or whether holders would have direct redemption rights. The company also did not provide a definite launch timeline. 

Tether acknowledged Cointelegraph’s request for comment. Cointelegraph reached out to the National Bank of Georgia for more information, but did not receive a response by publication. 

Georgia released stablecoin rules in March

On March 6, the National Bank of Georgia released rules covering stablecoin issuance. The framework said a stablecoin offering in Georgia cannot be provided without prior written consent from the National Bank. 

It applies to virtual asset service providers, or VASPs, registered with the central bank, while companies that are not registered as VASPs must obtain registration before conducting a stablecoin offering or providing related services. The central bank said stablecoins in circulation must be fully backed by reserve assets that meet liquidity and credit quality requirements. 

Related: Tether buys SoftBank’s stake in Bitcoin company Twenty One Capital

The rules also require issuers to prepare documents related to the initial issuance and submit them for external auditor verification, according to the central bank. The regulator said the framework intends to improve consumer protection, risk management and alignment with international standards. 

GELT to join Tether’s non-dollar stablecoin lineup

The GELT stablecoin would join Tether’s smaller lineup of currency-specific stablecoin products beyond its flagship USDT. Tether has previously launched tokens pegged to the Mexican peso and offshore Chinese yuan and has also announced plans for a United Arab Emirates dirham-pegged stablecoin. 

Tether’s Mexican peso-pegged MXNT launched in 2022 with initial support on Ethereum, Tron and Polygon. Its offshore Chinese yuan-pegged CNHT was created in 2019 and later expanded to Tron, while the planned UAE dirham token was announced in 2024 with backing from liquid UAE-based reserves.

The company has also developed market-specific stablecoin products. In January 2026, Tether launched USAT as a US-regulated dollar stablecoin aimed at the American market. 

Tether has also wound down some of its earlier non-USDT stablecoins. The company stopped minting its euro-pegged EURT and said redemptions ended in November 2025, while its offshore Chinese yuan-pegged CNHT is set to become non-redeemable in February 2027.

Magazine: ETH bears growling, Tom Lee’s buying, XRP to ‘explode’: Market Moves

Strategy shifted its capital allocation this week by pausing Bitcoin purchases and focusing on debt repurchases. The company directed resources toward retiring convertible notes instead of expanding its digital asset holdings.

Strategy Prioritizes Convertible Debt Repurchase

Strategy paused its Bitcoin accumulation program and allocated capital toward repurchasing convertible senior notes due in 2029. The company announced plans to retire nearly $1.5 billion in face value debt and expects to complete the transaction for about $1.38 billion in cash.

The company intends to fund the repurchase through existing cash reserves and proceeds from stock sales. It also outlined the possibility of using Bitcoin-related resources if necessary, though current holdings indicate no direct reduction in its Bitcoin treasury.

The debt repurchase follows recent fundraising efforts through STRC perpetual preferred shares and MSTR stock sales. Consequently, Strategy previously acquired 24,869 Bitcoin for approximately $2.01 billion. The latest move marks a temporary shift from accumulation toward balance sheet management.

Bitcoin Holdings Remain at Record Levels

Despite the pause in purchases, Strategy continues to hold 843,738 Bitcoin on its balance sheet, carrying a market value of about $65.25 billion based on recent prices. The company acquired the assets for roughly $63.88 billion.

The figures suggest that Strategy remains in a profitable position on its Bitcoin investment. The current treasury size reinforces its status as the largest corporate Bitcoin holder and underscores its long-term commitment to digital assets.

Background factors support that view: the company has raised billions through multiple financing methods and has consistently used equity, debt, and preferred share offerings to fund acquisitions. The latest debt action therefore reflects capital management rather than a strategic retreat from Bitcoin.

Debt Reduction Supports Capital Structure Goals

The debt repurchase reduces future dilution risks tied to convertible notes, meaning fewer potential shares could enter circulation if conversions occur later. The move may also increase Bitcoin exposure on a per-share basis for existing shareholders.

Retiring debt below face value strengthens the company’s financial position by lowering outstanding liabilities and improving balance sheet flexibility. The reduction in leverage may also support future fundraising when market conditions improve.

Strategy has relied on capital markets to expand its Bitcoin treasury over recent years, so maintaining financial flexibility remains important for future acquisitions. The company can potentially access new debt, equity, or preferred share financing after completing the repurchase.

The announcement arrived during a challenging period for MSTR stock performance: shares declined more than 5% over the previous week and erased earlier gains, and the stock closed 3.01% lower at $159.89 on Friday. Recent filings also showed stock sales by Chief Financial Officer Andrew Kang and director Jarrod Patten. However, Strategy’s Bitcoin holdings remain unchanged despite concerns surrounding the debt transaction. The company’s latest actions indicate a focus on strengthening its capital structure while preserving capacity for future Bitcoin purchases.

Key Highlights

• Coinhouse obtains MiCA authorization from French regulators for EU-wide crypto operations.
• Paris-based platform receives EU passporting privileges well before France’s 2026 compliance cutoff.
• Coinhouse transitions from national PSAN registration to comprehensive PSCA authorization.
• MiCA approval provides Coinhouse with competitive advantages in Europe’s regulated digital asset sector.
• Authorization enables Coinhouse to deliver custody, transfer, advisory, and brokerage solutions throughout Europe.

Coinhouse has obtained MiCA authorization from France’s financial regulator AMF, granting the Paris-based platform expanded operational capacity throughout the European Union. The regulatory approval encompasses brokerage services, digital asset custody, transfer operations, investment advisory, and portfolio management activities. This achievement positions Coinhouse well ahead of France’s mandatory July 2026 licensing requirement.

Coinhouse Achieves Complete PSCA Authorization

Coinhouse has been granted Crypto Asset Service Provider certification under France’s MiCA framework. This new authorization supersedes the company’s previous PSAN designation, which operated under France’s domestic cryptocurrency regulatory system. The upgrade establishes a more robust legal foundation for international activities.

The MiCA authorization enables Coinhouse to deliver multiple regulated cryptocurrency services throughout EU jurisdictions. Available services encompass purchasing, selling, exchange operations, safekeeping, administrative functions, and digital asset transfers. Furthermore, the authorization includes investment consultation and portfolio management capabilities.

Coinhouse originated in 2014 under the name La Maison du Bitcoin. The platform subsequently became among France’s initial registered Digital Asset Service Providers. The MiCA authorization now elevates the company from domestic registration to European Union-wide authorization.

MiCA Authorization Facilitates European Growth Strategy

The MiCA authorization provides Coinhouse with passporting capabilities throughout every EU Member State. Consequently, the platform can scale operations without pursuing individual national registrations across different markets. This framework establishes a more streamlined pathway for compliant expansion.

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Coinhouse currently operates in French-speaking territories including Belgium and Luxembourg. Nevertheless, the fresh authorization facilitates wider accessibility to retail customers, corporate entities, and institutional investors. The platform can now distribute its offerings across Europe under unified regulatory standards.

The MiCA authorization simultaneously bolsters Coinhouse’s competitive standing against less agile rivals. Numerous French PSAN entities still require authorization before the domestic system expires. Accordingly, Coinhouse secures both regulatory stability and marketplace advantages.

France Advances Toward MiCA Transition Date

France plans to discontinue its domestic PSAN system on July 1, 2026. Beyond that date, cryptocurrency service platforms require PSCA authorization to maintain legal operations. The MiCA authorization consequently becomes mandatory for businesses serving French customers.

The AMF has cautioned that unauthorized providers must cease operations following the transition deadline. Organizations that operate without proper authorization may encounter legal consequences and monetary penalties. Therefore, obtaining early authorization provides Coinhouse with uninterrupted operations before the deadline.

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The MiCA authorization additionally demonstrates Europe’s transition toward unified cryptocurrency regulation. MiCA seeks to standardize digital asset supervision and eliminate fragmented national frameworks. For Coinhouse, the authorization transforms regulatory compliance into an opportunity for European expansion.