South Korea blocks Polymarket access
Analysis based on 6 articles · First reported Aug 18, 2026 · Last updated Aug 19, 2026
The decision adds to mounting international regulatory pressure on Polymarket, potentially reducing its addressable user base and increasing compliance costs. It may also dampen investor sentiment toward prediction market platforms and highlight regulatory uncertainty in the crypto-based prediction market sector.
On August 18, 2026, South Korea's Broadcasting, Media and Communications Standards Commission (formerly the South Korea — Korea Media and Communications Commission) approved a corrective measure requiring domestic internet service providers to block access to Polymarket, a cryptocurrency-based prediction market platform. The regulator concluded that Polymarket facilitates gambling and the operation of gambling venues under the Criminal Act and the National Sports Promotion Act. The decision followed a review that began in July after requests from the National Police Agency and the South Korea — National Gambling Control Commission, and a separate police investigation into domestic users. Polymarket argued that it had removed Korean-language services, does not support won payments, and operates through non-custodial peer-to-peer transactions and smart contracts, but regulators rejected these defenses, stating that technical structure does not exempt the platform from domestic law. The regulator also cited a contract on Seoul rainfall as evidence of local relevance. South Korea joins more than 30 jurisdictions, including France, Australia, Germany, India, and the Czech Republic, that have restricted Polymarket. Additionally, The Baltimore Banner and Mayor Brandon Scott filed lawsuits against Polymarket and Kalshi on August 13, accusing them of offering unlicensed sports betting.
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