Law enforcement authorities in South Korea have allegedly charged 26 domestic participants of Polymarket on allegations of participating in unauthorized gambling.
Based on a publication by Asia Business Daily, the cyber crime investigation department under the Gangwon Provincial Police Agency has forwarded 18 of the suspected persons to prosecutors.
The group of 26 people staked an aggregate amount of roughly 17.6 billion won ($12.7 million) across the forecasting platform. The highest total bet placed by a single participant reached approximately 5.7 billion won ($4.1 million).
South Korean law enforcement explained that wagering on binary event contracts on Polymarket violates Article 246 of the national Criminal Act, given that participants risk funds on events outside of their personal influence.
Not gambling, users say
Conversely, the accused persons contended that Polymarket ought to be classified as a cryptocurrency-powered derivatives venue instead of a gambling site, noting that agreements on the network operate via an order book and are eligible for settlement ahead of their maturity date.
Whether this difference matters will serve as the central debate should the matters proceed to trial, the publication noted.
This development followed roughly four weeks after the media oversight body of South Korea directed local internet service providers to restrict domestic entry to Polymarket after concluding that the service hosted an illicit betting ecosystem.
During that period, Polymarket countered that it should not be categorized as a gambling venue inside South Korea because the protocol operates without custody, rejects South Korean won transactions, and has discontinued support for Korean-language interfaces.
The Block has reached out to Polymarket for comment.
Originally published at https://www.theblock.co/news/regulation/2026-09-17-south-korean-police-charge-polymarket-users-415333.
