South Korea Moves to Block Polymarket, Joining 30+ Jurisdictions Restricting Access
TL;DR
- Polymarket was blocked in South Korea following a resolution by the Korea Communications Standards Commission.
- Authorities rejected the platform’s argument about its P2P nature and classified it as an illegal gambling operator.
- More than 30 jurisdictions, including France, Spain, Argentina, and Indonesia, already restrict access to the platform.
Polymarket, the popular prediction market based on yes-or-no contracts tied to real-world events, was blocked in South Korea by the country’s Korea Communications Standards Commission.
The resolution was grounded in violations of the Criminal Act and the National Sports Promotion Act, making South Korea the latest of more than 30 jurisdictions to restrict access to the platform on the grounds that it constitutes a form of gambling.
The commission began reviewing the case in July, at the request of the National Police Agency and the National Gambling Control Commission. At the same time, police opened an independent investigation into local Polymarket users for alleged participation in illegal betting.
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