Polymarket Hit With Access Block in South Korea Over Gambling Allegations
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South Korea moved to block domestic access to Polymarket after the Korea Media and Communications Commission's Communications Deliberation Subcommittee approved an access-blocking corrective measure on August 18, determining the crypto prediction market facilitates illegal gambling under local law. The decision raises regulatory risk for crypto prediction markets and DeFi-style platforms, threatening local adoption, token activity and market access as jurisdictions increase scrutiny of gambling and compliance issues.
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South Korea has decided to block domestic access to Polymarket after authorities determined that its services facilitate activities considered illegal gambling under local law.
The Korea Media and Communications Commission announced on August 18 that its Communications Deliberation Subcommittee had reviewed the platform and approved an access-blocking corrective measure.
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South Korea moves to block Polymarket, citing speculative gambling concerns
