Globe confirms Polymarket block after PAGCOR order in Philippines

Published: 2026-05-27 23:51:18 |

Globe Telecom confirmed a Polymarket block in the Philippines after the Philippine gaming regulator PAGCOR endorsed a list of sites to be blocked. In an email to BitPinas on May 27, Globe said polymarket.com was included on the PAGCOR blocking list dated May 14, 2026. Globe then applied network-level restrictions. For many Globe users, access is now systematically blocked. However, user testing indicates Polymarket remains reachable for local users when connecting via PLDT, limiting the impact to Globe networks rather than a full shutdown. The regulatory action coincides with Polymarket’s launch of localized political betting contracts. One market, “Will the Philippine Senate convict Sara Duterte?”, opened May 21 and had a high trading volume by May 25. Data showed “No” at about 70 cents and “Yes” at about 32 cents, implying traders priced roughly a 31–32% probability of conviction by the Philippine Senate. The pool resolves to “Yes” if the Senate convicts the Vice President over any House-approved impeachment articles by Dec. 31, 2026. Prior to the Polymarket block, BitPinas reported increased local marketing, including sponsored ads on Meta’s Facebook, with some campaigns localized for Chinese-speaking audiences. The platform runs on Polygon and uses USDC for peer-to-peer share trading. Traders should note: the Polymarket block is a country-specific connectivity constraint tied to Philippine gambling regulation, not a change to Polymarket’s on-chain mechanics. Near-term liquidity could shift away from Globe users, while sentiment effects will likely be localized to Philippine political-event markets.

Neutral

This is likely neutral for the broader crypto market because it is a targeted, country-specific access restriction rather than a protocol-level change. Globe confirms the Polymarket block only on Globe networks; PLDT users can still access the platform, which should prevent a total liquidity collapse. Historically, similar regulatory or telecom-level access actions tend to shift order flow and marketing reach rather than destroy on-chain value. In the short term, Philippine political-event markets may see reduced participation from Globe subscribers, potentially increasing short-term volatility or widening spreads in local contracts. In the long term, if regulators continue to escalate enforcement, market depth for affected jurisdictions could decline and force traders to route activity through alternate ISPs or platforms—gradually concentrating liquidity in compliant or more accessible regions. However, since Polymarket’s resolution mechanics remain unchanged on-chain, the main market effect is likely localized sentiment/liquidity rotation rather than a systemic bearish driver.