đš South Korea Blocks Polymarket Over Gambling Concerns
South Korea has officially blocked access to Polymarket, joining over 30 jurisdictions restricting the prediction market.
The Korea Communications Commission voted Tuesday to cut domestic access, ruling the platform facilitates illegal gambling.
Polymarket's defense â removing Korean language support, stopping KRW payments, using non-custodial smart contracts â was rejected by regulators.
They cited Polymarket's role in setting market rules, providing settlement infrastructure, and charging trading fees as proof it operates as a gambling intermediary.
Local police have already opened investigations against Korean users suspected of illegal gambling.
This continues a global trend: governments increasingly classify prediction markets as gambling rather than financial instruments.
Follow for more crypto intel. đ
South Korea has officially blocked access to Polymarket, joining over 30 jurisdictions restricting the prediction market.
The Korea Communications Commission voted Tuesday to cut domestic access, ruling the platform facilitates illegal gambling.
Polymarket's defense â removing Korean language support, stopping KRW payments, using non-custodial smart contracts â was rejected by regulators.
They cited Polymarket's role in setting market rules, providing settlement infrastructure, and charging trading fees as proof it operates as a gambling intermediary.
Local police have already opened investigations against Korean users suspected of illegal gambling.
This continues a global trend: governments increasingly classify prediction markets as gambling rather than financial instruments.
Follow for more crypto intel. đ