South Korean authorities have initiated their first investigation into domestic users of the prediction market platform Polymarket, suspecting illegal gambling activities. While Polymarket operates legally in the United States, it is deemed illegal private gambling in South Korea. The Gangwon Police Agency, acting on behalf of the Korean National Police Agency, is conducting a nationwide probe, including in Gangwon Province. This marks the first instance of Polymarket users being scrutinized in the country. Under South Korean law, all gambling websites are illegal except for Sports Toto, and violators could face fines up to 10 million won.
South Korean Police Investigate Polymarket Users for Illegal Gambling
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