South Korea opens illegal gambling probe into Polymarket users

Gangwon Provincial Police has launched what appears to be South Korea’s first illegal gambling investigation targeting local users of the decentralized prediction market Polymarket, following a request from the National Police Agency. Users could face fines of up to 10 million won ($6,500) under Article 246 of the Criminal Act, which covers gambling and habitual gambling.

Under current law, Sports Toto is the state-authorized sports betting platform, and unauthorized online betting can be prosecuted. The probe comes amid a wider global crackdown on prediction markets. Several jurisdictions have blocked or restricted access to Polymarket, including Singapore, Poland, Portugal, Hungary, Ukraine, Brazil and Indonesia, and the platform said it was entirely geoblocked in 35 regions at the time of writing.

Polymarket remains accessible in South Korea. The news follows recent local elections in which President Lee Jae-myung’s ruling Democratic Party swept most major races while conservative Oh Se-hoon won another term as mayor of Seoul.

South Korea, Gangwon Province

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