South Korea Blocks Polymarket Over Gambling Concerns

South Korea has blocked domestic access to Polymarket after its Media and Communications Standards Commission voted that the platform's prediction markets facilitate illegal gambling, making it the latest of more than 30 jurisdictions to restrict the service. Polymarket defended itself by noting it had removed Korean-language services, does not accept Korean won, and uses non-custodial smart contracts rather than directly holding customer funds. Regulators rejected that argument, citing Polymarket's role in the activity.