South Korea's Broadcast Commission Launches Review of Polymarket Over Election Betting Concerns

According to Bloomberg, South Korea's broadcast communication regulator launched a formal investigation into prediction market platform Polymarket on May 22, examining whether it provides illegal gambling content in violation of local law. The review comes as South Korea prepares for local elections in June, during which multiple election-related trading markets have appeared on Polymarket, allowing users to wager using cryptocurrency on electoral outcomes. South Korea enforces strict anti-gambling regulations, permitting only government-licensed horse racing and sports betting.
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