TechFlow reports that many residents in Taiwan have been placing bets on the decentralized betting platform Polymarket regarding the upcoming leadership election scheduled for January 13, 2024. Prosecutors and investigators have summoned several individuals for questioning. According to Article 88-1 of Taiwan's "Election and Recall Act," participating in gambling activities related to elections is illegal and can result in up to six months of imprisonment, detention, or a fine of up to 100,000 New Taiwan Dollars (approximately USD 3,188).
It is reported that during the 2020 U.S. presidential election, betting transactions related to Polymarket exceeded $10 million.
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