South Korean authorities have initiated an investigation into Polymarket users over allegations of illegal gambling linked to local elections. This marks the first probe of its kind in the country.
The Gangwon Provincial Police are leading the investigation, which was requested by the National Police Agency. Users involved may face fines of up to 10 million won ($6,500) under Article 246 of the Criminal Act. Currently, Sports Toto is the only state-authorized sports betting platform, and unauthorized online betting is subject to prosecution under South Korean gambling laws.