South Korean police pursue 26 Polymarket users over $12.7 million in bets

South Korean authorities have opened criminal cases against 26 individuals for illegal gambling on Polymarket, with 18 cases already forwarded to the prosecution. Despite the platform being blocked in South Korea, investigators tracked the users by analyzing public blockchain records and open-source intelligence. The total volume of bets is estimated at 17.6 billion won ($12.7 million), with one individual accounting for 5.7 billion won ($4.1 million). Under Korean law, habitual gambling is punishable by up to three years in prison.