Polymarket Blocked in South Korea as Crypto Prediction Markets Face Global Crackdown
TLDR
- South Korea’s Broadcasting, Media and Communications Review Committee voted on Aug. 18 to block access to Polymarket
- Regulators said Polymarket’s winner-takes-all model encourages speculative gambling behavior
- Polymarket argued its non-custodial peer-to-peer structure places it outside gambling laws
- The regulator rejected that defense, saying decentralized tech does not exempt the platform from South Korean law
- South Korea joins more than 30 jurisdictions that have restricted Polymarket access
South Korea has ordered domestic access to the crypto prediction market Polymarket to be blocked, citing violations of the country’s Criminal Act and National Sports Promotion Act.
South Korea Blocks Polymarket Over Gambling Concerns
South Korea’s media regulator voted on Aug. 18 to block access to Polymarket, saying its winner-take-all markets on events including politics, elections, sports and weather encourage gambling. Polymarket argued that its… pic.twitter.com/MKgsozIqia
- Wu Blockchain (@WuBlockchain) August 18, 2026
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