Polymarket, a blockchain-based prediction market platform, is under legal scrutiny in China due to concerns that its operations may be classified as gambling under Chinese law. The platform allows users to bet on future events using stablecoins like USDC, which could meet the legal definition of gambling, involving real assets and the presence of winners and losers. Legal experts warn that users of Polymarket in China could face criminal and administrative risks, including charges related to gambling offenses. Additionally, there are potential political risks for those betting on political figures or events. While most users might not encounter direct legal consequences, those involved in promoting or operating the platform face significant risks.