South Korea Blocks Access to Polymarket Over Gambling Violations
Here's what it means for you.
If you’re involved in crypto or prediction markets, this regulatory move could impact your access to platforms like Polymarket.
What happened
South Korea blocked domestic access to Polymarket on August 18, 2026, due to violations of gambling laws.
The Context
- Strict regulations: South Korea has stringent gambling laws, allowing only state-run lotteries and sports betting.
- Ongoing investigations: Local users are under scrutiny for suspected illegal gambling, prompting regulatory reviews.
- Global trend: Over 30 jurisdictions, including France and Spain, have restricted Polymarket for similar reasons.
The Number
— This is the total number of countries that Polymarket had listed as fully restricted prior to South Korea's addition, highlighting the growing regulatory landscape around crypto-based gambling.
Takeaway
As authorities ramp up scrutiny on prediction markets, expect more jurisdictions to follow South Korea's lead.
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South Korea joins more than 30 jurisdictions restricting Polymarket access
Regulators rejected Polymarket's defense regarding its P2P nature, arguing the platform manages market rules and facilitates crypto-based gambling activity.
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