South Korea blocks access to Polymarket over gambling violations

South Korea's Korea Media and Communications Standards Commission has blocked domestic access to the prediction market Polymarket, citing violations of the country's Criminal and National Sports Promotion Acts. Regulators rejected Polymarket's defense regarding its peer-to-peer nature, arguing the platform manages market rules and facilitates crypto-based gambling. The ban aligns South Korea with over 30 other jurisdictions restricting the platform, while local police investigate users for illegal gambling.

South Korea Polymarket access ban

• ▪The Korea Media and Communications Standards Commission ordered domestic access to the prediction market Polymarket blocked on or before August 18, 2026.
• ▪South Korea's National Police Agency opened an investigation into local Polymarket users over suspected illegal gambling.
• ▪The Korea Media and Communications Standards Commission began reviewing Polymarket in July 2026 following requests from the National Police Agency and the National Gambling Control Commission.

Gambling law violations cited

• ▪The Korea Media and Communications Standards Commission stated that Polymarket's contract structure encourages speculative behavior because users' gains and losses depend on events beyond their control.
• ▪The Korea Media and Communications Standards Commission found that Polymarket facilitates gambling and the operation of gambling venues under South Korea's Criminal Act and National Sports Promotion Act.

Polymarket defense arguments

• ▪Polymarket defended its platform by stating that it operates using non-custodial peer-to-peer transactions and smart contracts.
• ▪Polymarket stated that it has removed Korean-language services and does not support payments in South Korea's won fiat currency.

Regulatory rejection reasoning

• ▪The Korea Media and Communications Standards Commission stated that Polymarket's operator provides crypto deposit, withdrawal, and settlement systems, and charges fees.
• ▪The Korea Media and Communications Standards Commission rejected Polymarket's defense, stating that the platform's operator still manages market creation and trading rules.

Global Polymarket restrictions

• ▪South Korea joins over 30 jurisdictions, including France, Spain, Indonesia, Argentina, and Ukraine, that have restricted access to Polymarket over gambling concerns.
• ▪Polymarket's official platform lists 39 countries as being fully restricted from accessing its services, which did not include South Korea as of August 18, 2026.

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