South Korea Blocks Polymarket Over Gambling Rules
South Korea’s regulator has ordered its domestic ISPs to block Polymarket, deeming its winner-take-all model to be a form of illegal gambling.
Following consultations with the police, gambling control bodies, and sports authorities, it was concluded that the platform facilitates betting on uncontrollable events such as politics, the weather, sports.
Regulators cited specific South Korean markets, such as Seoul rainfall forecasts, as part of their reasoning. They also emphasised that the platform violates both criminal law and the National Sports Promotion Act.
Polymarket contested the move, arguing that it falls outside of local communications law due to its non-custodial, blockchain-based structure. They also noted that they had already removed Korean-language support and had gained acceptance. However, the Commission rejected this argument, stating that technical features do not exempt firms from domestic legal obligations.
The ban adds South Korea to a growing list of restricted countries in the Asia-Pacific region that includes Japan, Singapore, and Taiwan, bringing the total number of restricted countries globally to 39. Although an implementation date has not yet been announced, the case highlights Seoul’s firm stance that digital innovation does not override anti-gambling statutes.
