South Korea Blocks Polymarket Over Illegal Gambling
The regulator said Polymarket’s winner-takes-all markets and fee-based trading systems amount to gambling under South Korean law.
- On Tuesday, the Korea Media and Communications Standards Commission ordered domestic access to Polymarket blocked, determining the platform facilitates illegal gambling under the Criminal Act and National Sports Promotion Act.
- The commission stated that the platform's "structure encourages speculative behavior because users" gain or lose money on uncontrolled events; review began in July following requests from the National Police Agency and National Gambling Control Commission.
- Polymarket argued it removed Korean-language services and operates through noncustodial smart contracts, but the regulator rejected this defense, noting the operator manages market creation, sets trading rules, and collects transaction fees.
- South Korea joins a growing group of countries restricting the platform on gambling-related grounds, including France, Australia, Germany, Spain, Indonesia, Argentina, and Ukraine.
- While Polymarket currently lists 39 countries as fully restricted, South Korea was previously absent from that list; the National Police Agency has separately opened an investigation into local users over suspected illegal gambling.
11 Articles
11 Articles
The Korea Communications Standards Commission has decided to block domestic access to Polymarket, an overseas prediction platform that has been the subject of controversy regarding gambling. The commission determined that the platform's structure, which involves betting virtual assets on the outcome of future events, promotes gambling. Although Polymarket argued that it is not subject to domestic laws, the authorities emphasized that blocking ac…
(Seoul = Yonhap News) Reporter Kwon Ha-young = The Korea Communications Standards Commission has recognized the gambling nature of the overseas prediction market platform 'Polymarket' and blocked access...
South Korea Hunts Down Prediction Market Users
South Korea's Broadcasting, Media and Communications Standards Commission voted on 18 August 2026 to order domestic internet service providers to block access to Polymarket, classifying the crypto prediction market as a venue for illegal gambling under Korean law. The corrective action ends a regulatory review that began in May and arrives on top of the country's first criminal investigation into Korean users of the platform. From Review to Full…
Polymarket Blocked In South Korea Over Gambling Concerns
South Korea has ordered internet providers to block access to Polymarket after regulators classified the prediction platform as illegal gambling. The decision follows months of scrutiny over real-money event contracts covering politics, sports, elections, and other uncertain outcomes.
Coverage Details
Bias Distribution
- 50% of the sources are Center, 50% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
