South Korea's commission orders Polymarket blocked over gambling concerns
South Korea's media and communications review commission ordered Polymarket blocked, determining that it facilitates gambling under the Criminal Act and prohibited betting activity under the National Sports Promotion Act, reportedly. The commission rejected Polymarket's arguments about its Korean-language services, payment options and noncustodial transactions, citing its markets, trading rules, payment systems and transaction fees.
The decision signals that South Korean authorities may treat prediction-market trading features as prohibited gambling.