Polymarket Hit With Access Block in South Korea Over Gambling Allegations

Polymarket faces another regulatory setback as South Korea orders access blocked. 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 dom...