South Korean commission orders Polymarket access blocked over illegal betting
The decision establishes that decentralised prediction-market features do not exclude platforms from South Korean betting laws.
The decision establishes that decentralised prediction-market features do not exclude platforms from South Korean betting laws.
The decision would restrict Polymarket’s access to users in South Korea.
South Korea’s Polymarket ban could end the domestic prediction market sector, industry sources warned.
The domestic block limits South Korean access to Polymarket’s prediction markets.
The block restricts access and signals regulatory scrutiny, despite Polymarket’s changes to Korean-language services and won payments.
The decision signals that South Korean authorities may treat prediction-market trading features as prohibited gambling.
The case tests how South Korean communications rules apply to prediction-market platforms, a model now facing scrutiny across multiple jurisdictions.
The review could determine whether Polymarket remains accessible to users in South Korea.
The scheme gives operators and regulators a defined mechanism for reporting illegal sports betting sites during the campaign.
The blocking effort and ongoing enforcement may affect illegal betting access and the monitoring of sports wagering during the tournament.