{"id":123350,"date":"2026-08-18T11:52:10","date_gmt":"2026-08-18T11:52:10","guid":{"rendered":"https:\/\/www.europesays.com\/korea\/123350\/"},"modified":"2026-08-18T11:52:10","modified_gmt":"2026-08-18T11:52:10","slug":"south-korea-joins-more-than-30-jurisdictions-restricting-polymarket-access","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/korea\/123350\/","title":{"rendered":"South Korea joins more than 30 jurisdictions restricting Polymarket access"},"content":{"rendered":"<p>South Korea ordered domestic access to popular prediction market Polymarket blocked, becoming the latest of more than 30 jurisdictions to restrict the platform over gambling concerns.<\/p>\n<p>The Korea Media and Communications Standards Commission approved the move after finding that Polymarket facilitates gambling and the operation of gambling venues under the country\u2019s Criminal Act along with similar categories under the National Sports Promotion Act, <a href=\"https:\/\/www.kocsc.or.kr\/main\/cop\/bbs\/selectBoardArticle.do#LINK\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">according to local reports<\/a>.<\/p>\n<p>Polymarket lets users trade yes-or-no contracts tied to the outcomes of real-world events including elections, sports, economic data and the weather. It\u2019s one of the <a href=\"https:\/\/dune.com\/datadashboards\/prediction-markets\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">largest prediction markets<\/a> along with Kalshi.<\/p>\n<p>The commission said that these markets\u2019 structure encourages speculative behavior because users\u2019 gains and losses depend on events beyond their control.<\/p>\n<p>Polymarket, according to <a href=\"https:\/\/news.sbs.co.kr\/news\/endPage.do?news_id=N1008709963\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">local media<\/a>, said that it had removed Korean-language services, does not support payments in the country\u2019s won fiat currency, and uses non-custodial peer-to-peer transactions and smart contracts.<\/p>\n<p>The company did not immediately respond to CoinDesk\u2019s request for further comment.<\/p>\n<p>The regulator rejected the defense, saying Polymarket\u2019s operator still manages market creation and trading rules while providing crypto deposit, withdrawal and settlement systems and charging fees.<\/p>\n","protected":false},"excerpt":{"rendered":"South Korea ordered domestic access to popular prediction market Polymarket blocked, becoming the latest of more than 30&hellip;\n","protected":false},"author":2,"featured_media":123351,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[31,25518,33],"class_list":["post-123350","post","type-post","status-publish","format-standard","has-post-thumbnail","category-south-korea","tag-korea","tag-polymarket","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/123350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=123350"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/123350\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/123351"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=123350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=123350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=123350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}