South Korea Blocks Access to Polymarket

South Korean regulators have officially blocked access to Polymarket. This move makes the country one of more than thirty jurisdictions where the prediction platform is now restricted. Authorities are taking a firm stance against the site due to concerns over its operational model.

Regulators rejected the argument that the site functions strictly as a peer to peer platform. Instead, officials stated that the company actively manages market rules and encourages crypto based gambling activity. Because of these findings, the government has decided to limit local access to the platform.

This decision highlights the increasing scrutiny that prediction markets face from global financial authorities. Traders in the region will need to keep an eye on how these local restrictions affect their ability to use decentralized betting services moving forward.