South Korean police have launched their first investigation into local users of Polymarket, the world’s largest prediction market, on suspicion of illegal gambling. According to ChosunBiz, the probe is being led by Gangwon Provincial Police following a request from the National Police Agency. The case matters because South Korean law prohibits betting on platforms outside the state-authorized Sports Toto system. Individuals found violating Article 246 of the Criminal Act can face fines of up to 10 million won. Authorities are reportedly examining trading activity linked to Polymarket markets on South Korea’s June 3 local elections, where betting volumes reached tens of billions of won. The investigation could set a precedent for how prediction markets are regulated in the country.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Cardano has been under heavy bearish pressure as the price has dropped back to levels…
Bitcoin may still be far from its ultimate market bottom, according to fresh analysis from…
India's Parliamentary Standing Committee on Finance is set to hold a crucial meeting on July…
Hyperliquid price is displaying significant strength despite the broader market weakness as Bitcoin marks an…
Plasma has caught traders’ attention after posting a strong 11% recovery in recent sessions, bouncing…
For the first time in years, the crypto rankings experienced a major shake-up. Tether’s USDT…
