- Police said they booked 26 South Korean users of Polymarket and that their cumulative betting amount reached about $12.7 million.
- Police said Polymarket transactions constitute gambling offenses under Article 246 of the Criminal Act because they involve staking crypto assets and gains or losses are determined by the outcome.
- The Korea Communications Standards Commission said Polymarket was effectively providing an illegal gambling environment to South Korean users and voted to block domestic access.
Police Book 26 South Korean Polymarket Users as Cumulative Bets Reach $12.7 Million
Police have booked 26 South Korean users of overseas crypto-based prediction market platform Polymarket, with their cumulative wagers totaling about $12.7 million.
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Sep 17, 2026 at 4:21 AM UTC · 2 min de leitura
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Police have booked 26 South Korean users of overseas crypto-based prediction market platform Polymarket, with their cumulative wagers totaling about $12.7 million.
According to a Sept. 17 report by Asia Economy, an analysis of data the Korean National Police Agency submitted to the office of Democratic Party lawmaker Yoon Kun-young showed the Gangwon Provincial Police Agency's cyber investigation unit had booked 26 Polymarket users as of Sept. 15. Eighteen of them were sent to prosecutors.
The users placed cumulative bets of about $12.7 million on Polymarket. The largest individual bettor wagered about $4.1 million.
Polymarket is a crypto-based platform where users make yes-or-no predictions on whether specific political, social and economic events will occur. Depending on the outcome, users receive 1 USDC or 1 pUSD per share, or lose the money they staked.
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