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South Korea Investigates Polymarket Users for Illegal Betting After June 3 Election, Fines Up to 10M Won

Enforcement Actions Prediction Market Regulation & Policy

2026-06-05 08:41:59

POLYMARKET-1.38%

According to local media, South Korean police began investigating domestic Polymarket users on June 5 for alleged illegal gambling following heavy betting activity tied to the country's June 3 local elections. The investigation, led by Gangwon Provincial Police at the National Police Agency's request, targets users across multiple regions. Under South Korean law, betting on platforms outside Sports Toto is prohibited; violators may face fines of up to 10 million won under Article 246 of the Criminal Act. Polymarket remains widely accessible in South Korea without IP restrictions, though authorities classify it as illegal private gambling despite its legality in the United States.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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