Korean police reportedly referring Polymarket users to authorities for possible indictment
Korean police have reportedly begun referring individuals found to be using global prediction platform Polymarket to the recently created Prosecution Service on illegal gambling charges.
According to Korean business media outlet ChosunBiz, a total of 26 people have so far been investigated, with 18 referred for betting a combined KRW17.6 billion (US$13.2 million). One user said to have bet KRW5.7 billion (US$4.3 million) alone as per National Police Agency data referenced by local media. The report claims police intend to recommend indictment in cases involving individuals confirmed to have used Polymarket.
Korea’s media regulator, the Korea Communications Standards Commission (KCSC), recently voted to block access to Polymarket, arguing that the platform “constitutes information that facilitates gambling or is intended to provide a venue for gambling, as well as information intended for activities similar to sports betting that fall under the National Sports Promotion Act.”
Under Korean law, placing bets on any site other than the Sports Toto – operated by the Korea Sports Promotion Foundation (KSPO) – is illegal, with those found to have violated Article 246 of the Criminal Act facing fines of up to KRW10 million (US$7,490).
The ChosunBiz report claims that many of the referrals have been made by the Gangwon Police Agency, which began investigating domestic Polymarket users in June following a request from headquarters.