South Korea police probe Polymarket users over illegal gambling claims: Report

Written by Zoltan Vardaistaff writerReviewed by Bryan O'Sheastaff editorWritten by Zoltan Vardaistaff writerReviewed by Bryan O'Sheastaff editorSouth Korea police probe Polymarket users over illegal gambling claims: ReportLatest NewsPublishedJun 5, 2026South Korean police reportedly launched the country’s first illegal gambling probe into local Polymarket users amid election-betting scrutiny.South Korean police have reportedly launched the country’s first illegal gambling probe into local Polymarket users, widening regulatory scrutiny of the decentralized prediction market.The investigation is led by Gangwon Provincial Police and was requested by the National Police Agency, according to ChosunBiz. Users may face fines of up to 10 million won ($6,500) under Article 246 of the Criminal Act covering gambling and habitual gambling. Under current law, Sports Toto is the state-authorized sports betting platform, while unauthorized online betting can be prosecuted under South Korean gambling laws.The reported probe adds to a broader global crackdown on prediction markets, with several jurisdictions blocking or restricting access to Polymarket. Some countries have completely blocked or prohibited Polymarket, including Singapore, Poland, Portugal, Hungary, Ukraine, Brazil and Indonesia. Polymarket remains accessible in South Korea.The news comes after President Lee Jae-myung's ruling Democratic Party swept most major local elections held on Wednesday, while conservative Oh Se-hoon won another term as mayor of Seoul, Reuters reported.Prediction market on whether Lee Jae-myung would be out as president of South Korea in 2026. Source: Polymarket.comOne Polymarket contract on whether Lee Jae-myung would be out as president saw nearly $54,000 in total trading volume, data shows.Related: Polymarket users cry foul after Strategy sale market resolves to ‘no’Political betting faces growing scrutinyThe latest probe adds to the growing regulatory scrutiny of political betting on Pol…

South Korea police probe Polymarket users over illegal gambling claims: Report

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