18 Korean Users of Polymarket Sent to Prosecution for Gambling Suspicions

Eighteen South Korean users of the U.S. prediction market platform Polymarket have been referred to prosecutors for suspected gambling violations. This marks the first time domestic Polymarket users in South Korea have faced such charges.

According to a report submitted by the National Police Agency to Rep. Yun Gyeon-young of the Democratic Party on July 17, Gangwon Cyber Investigation Unit has investigated 26 domestic Polymarket users, with 18 referred to prosecutors without detention. The unit had initiated pre-investigation (internal investigation) into domestic users in March.

The cumulative betting amount by those charged totals 17.6 billion won, with the highest individual bet reaching 5.7 billion won.

Police have determined that transactions on Polymarket constitute gambling under criminal law. Under current law, habitual gambling can result in up to three years in prison or a fine of up to 20 million won.

Polymarket was blocked for domestic access last month following a decision by the Broadcasting Media and Communications Commission (BACC) to block domestic access mid-month. The BACC ruled that Polymarket violated criminal law related to gambling facilitation, establishment of gambling venues, and the National Sports Promotion Act.