South Korea blocks access to Polymarket

South Korea’s Korea Communications Standards Commission has decided to block access to the prediction-betting site Polymarket. The decision was made during a telecommunications review subcommittee meeting. The commission concluded that Polymarket promotes speculative gambling due to its winner-takes-all profit and loss structure, where users' financial outcomes depend on uncontrollable events such as politics, the economy, and the weather. Additionally, the commission noted that the operator manages market creation and trading rules, offers a cryptocurrency settlement system, and collects fee revenue. Opinions from related agencies, including the Korean National Police Agency, indicated that the service could be classified under gambling offenses.

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