South Korean Police Investigate 26 Polymarket Users for Illegal Gambling

South Korean police have launched investigations into 26 Polymarket users, with 18 already referred to prosecutors. The cases involve a cumulative betting volume of approximately 17.6 billion KRW, with one individual betting as much as 5.7 billion KRW. Authorities identified the users by analyzing public blockchain transaction records using open-source intelligence (OSINT) techniques and have classified the platform's trading activities as illegal gambling. The Korea Communications Standards Commission (KCSC) blocked access to Polymarket on August 18.