South Korea Bans Polymarket, Citing Its Winner-Take-All Structure

NewsTue, 18 Aug 2026 15:47:21 UTC2 hours ago

South Korea ordered domestic access to Polymarket blocked, citing violations of the country's Criminal Act and National Sports Promotion Act over gambling concerns.

The Korea Communications Commission announced the decision on Tuesday, after consulting with police and gambling regulators, ordering internet providers to cut off access nationwide.

Why South Korea Ordered the Block

Gambling is illegal for South Korean citizens, with the Criminal Act imposing fines of up to roughly $7,000 for offenders. That law now applies directly to Polymarket's operations in the country.

The commission said Polymarket constitutes information that facilitates gambling or provides a venue for it, as well as activities resembling sports betting under the National Sports Promotion Act.

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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
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South Korea Bans Polymarket, Citing Its Winner-Take-All Structure

Why South Korea Ordered the Block

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