South Korea restricts access to Polymarket, becoming one of over 30 countries to do so
2026-08-18 19:17:58
According to CoinMeta, South Korea has ordered the blocking of domestic access to the popular prediction market Polymarket, becoming the latest region among more than 30 countries to restrict this platform due to concerns regarding gambling issues. South Korean media and the Communications Standards Commission have approved this measure, stating that Polymarket promotes gambling and violates the country's criminal law and National Sports Promotion Act. The commission noted that the structure of these markets encourages speculative behavior, and users' gains and losses depend on events beyond their control. Polymarket has removed Korean-language services, does not support payment in won (the South Korean currency), and uses unhosted peer-to-peer transactions and smart contracts. The commission began reviewing the platform in July at the request of the National Police Agency and the National Gambling Control Commission, and the police have launched investigations into local Polymarket users suspected of illegal gambling.
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Source:CoinDesk
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