South Korean Police Launch First Investigation Into Polymarket Users Over Illegal Gambling Allegations

According to ChainCatcher, South Korean police launched the country's first criminal investigation into Polymarket users, accusing them of violating Article 246 of the Criminal Code (gambling offense). The investigation, led by Gangwon Police Agency on behalf of the National Police Agency, targets users nationwide and carries a maximum fine of 10 million Korean won. South Korean users reportedly traded dollar-denominated stablecoins on the platform without restrictions; a single local election betting event alone attracted hundreds of billions of Korean won in wagers.
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