🇰🇷 South Korea Restricts Polymarket Access South Korea has ordered restrictions on Polymarket after regulators determined that its prediction markets could constitute illegal gambling under local laws. 🔹 What Happened? The Korea Communications Standards Commission voted on August 18 to restrict domestic access to Polymarket. 🔹 Why? Regulators focused on markets involving politics, elections, sports and other real-world events, arguing that Polymarket facilitates betting and settlement despite its non-custodial, peer-to-peer structure. 🔹 Why It Matters? This could become an important regulatory precedent for prediction markets. Blockchain technology or smart contracts may not protect platforms from local gambling laws.