South Korea Regulator Reviews Polymarket for Gambling Violations

South Korea's Korea Communications Standards Commission (KCSC) opened a formal review into Polymarket on Friday to determine whether the platform hosts illegal gambling content or violates national law, a commission spokesperson confirmed to Bloomberg News. The review focuses on whether Polymarket's service constitutes gambling under South Korean regulations. The KCSC, which oversees broadcast and online media, is responding to mounting regulatory pressure facing prediction markets globally.

Review Scope

The KCSC's formal review examines whether Polymarket violates South Korean law through its prediction market operations. The commission spokesperson did not specify a timeline for the review's completion or next procedural steps.