Polymarket Hit With Access Block in South Korea Over Gambling Allegations
🚫 South Korea has blocked access to Polymarket, deeming its services as facilitating illegal gambling under local law, following a review by the Korea Media and Communications Commission.
🔍 The platform was scrutinized after police investigations began in May, with the commission stating that Polymarket's structure encourages gambling behavior despite the platform's claims of being outside South Korean jurisdiction.
⚖️ Legal challenges are also emerging in the US, with Baltimore filing lawsuits against Polymarket and Kalshi for operating without necessary licenses, raising concerns about consumer protection and regulatory compliance.
🚫 South Korea has blocked access to Polymarket, deeming its services as facilitating illegal gambling under local law, following a review by the Korea Media and Communications Commission.
🔍 The platform was scrutinized after police investigations began in May, with the commission stating that Polymarket's structure encourages gambling behavior despite the platform's claims of being outside South Korean jurisdiction.
⚖️ Legal challenges are also emerging in the US, with Baltimore filing lawsuits against Polymarket and Kalshi for operating without necessary licenses, raising concerns about consumer protection and regulatory compliance.