South Korea’s Broadcasting and Communications Deliberation Committee is reviewing Polymarket over possible gambling law violations, according to Digital Asset.
The blockchain-based prediction market allows users to trade on the outcome of real-world events, including politics, sport, economic indicators and current affairs.
In South Korea, online gambling remains heavily restricted, with legal betting limited to tightly controlled activities and offshore gambling sites subject to blocking measures.
The committee is responsible for reviewing illegal online content, including gambling-related services.
If it determines that Polymarket is operating in breach of South Korean law, access to the platform could be blocked for domestic users.
The case places Polymarket within a broader regulatory debate over whether event contracts should be treated as financial products, gambling products or a separate category.
Several governments have taken action against prediction platforms in recent months. Ukraine ordered internet service providers to block Polymarket and more than 200 gambling sites in January, while Brazil blocked 27 prediction platforms in April.
US scrutiny has also increased. The Commodity Futures Trading Commission has examined prediction markets and state regulators have challenged sports-related event contracts, arguing that they can resemble unlicensed sports betting.
For South Korea, the review also fits into a wider domestic enforcement environment. Authorities have been increasing attention on online gambling harms, particularly youth gambling and illegal platforms.
Recent government measures include reporting systems, school-linked screening and referrals to treatment services.
The decision could influence how South Korea treats decentralized betting-style products that use cryptocurrency infrastructure but offer exposure to event outcomes. It may also affect whether similar platforms attempt to serve users in the market without local authorization.
Earlier this month, Global Gaming Insider reported that South Korea launched a nationwide reporting system to tackle youth online gambling, with agencies coordinating counseling, screening and rehabilitation referrals.
Polymarket has also appeared in regulatory debates because some markets involve political, sports and geopolitical outcomes rather than traditional casino games
