TechFlow News, May 22: According to Bloomingbit, South Korea’s Communications Standards Commission has officially launched an investigation into the global prediction market platform Polymarket to assess whether its operations constitute illegal gambling under domestic law. Commission officials stated that they have recently received related complaints and are currently reviewing overseas regulatory precedents to inform their assessment. As Polymarket offers Korean-language services and targets users in South Korea, it may fall under South Korean regulatory jurisdiction—even if its servers are located overseas.
Legal experts note that if the investigation concludes Polymarket is in violation, the platform could face blocking in South Korea or even be forced to exit the market entirely. Currently, Polymarket has already been designated an illegal gambling website and blocked in several countries, including France, Germany, and Italy.
