South Korean Police Target 26 Polymarket Users After $12.7 Million In Prediction Market Wagers
South Korean police have referred 18 of 26 Polymarket users to prosecutors over alleged illegal gambling after they placed a combined 17.6 billion won ($12.7 million) on prediction markets. The users argue Polymarket contracts are closer to crypto derivatives because they can be traded before expiry, but authorities say the wagers fall under South Korea’s gambling laws.
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