Polymarket Hit With Access Block in South Korea Over Gambling Allegations

South Korea has decided to block domestic access to Polymarket after authorities determined that its services facilitate activities considered illegal gambling under local law. The Korea Media and Communications Commission announced on August 18 that its Communications Deliberation Subcommittee had reviewed the platform and approved an access-blocking corrective measure. South Korea Blocks Polymarket According to a report by local media, the platform came under scrutiny in South Korea in late May, when police began investigating users on suspicion of gambling. The country’s media watchdog subsequently opened its own review on July 6. In reaching its decision, the commission said Polymarket’s structure, combined with wagers on events outside users’ control, “encourages gambling behavior.” Polymarket, on the other hand, argued that it was outside South Korean jurisdiction after removing Korean-language services and disabling payments denominated in Korean won. The commission rejected that position and said that technical changes or service methods do not remove a platform’s obligation to comply with domestic law. South Korea is not alone in restricting Polymarket. France blocked the platform last month over concerns about user losses and potential betting manipulation, while Australia and Germany imposed access restrictions in 2025 after classifying it as an illegal gambling service. More than 30 countries, including Italy, Indonesia, and Argentina, have also blocked or restricted Polymarket. More Legal Trouble Emerges The pressure on prediction markets as a whole is also building in the US, although the legal questions vary by jurisdiction. In Baltimore, officials, for instance, have taken aim at both Polymarket and Kalshi. As reported by CryptoPotato, the city and Mayor Brandon M. Scott filed separate lawsuits on August 13, accusing two platforms of effectively offering sports betting without the licenses required in Maryland. The complaints also allege that both companies presented their products in ways that could leave consumers with the impression that they are legal and properly regulated. Baltimore argued that calling them “event contracts” or prediction-market trades does not change their underlying nature. The city is seeking penalties, consumer restitution, disgorgement, and other legal remedies. Meanwhile, Kalshi is also facing a separate legal fight with New York officials over its operations in the state. The post Polymarket Hit With Access Block in South Korea Over Gambling Allegations appeared first on CryptoPotato.