South Korea weighs action against Polymarket over gambling concerns

South Korea weighs action against Polymarket over gambling concerns

South Korea’s media and communications review body will hear from Polymarket before deciding whether to issue a corrective request against the prediction market platform.

South Korea’s Criminal Act. Source: Korea Legislation Research Institute

Polymarket says its restrictions are designed to comply with sanctions, local financial rules, gambling and prediction market laws, anti-money laundering requirements and Know Your Customer regulations.

The company also lists certain regions within otherwise accessible countries as restricted, including:

• Alberta, British Columbia, Ontario and Quebec in Canada
• Crimea, Donetsk and Luhansk in Ukraine

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