South Korea has officially moved to block domestic access to Polymarket, the world’s largest decentralized prediction market, after regulators classified the platform as an illegal gambling operator. The decision, announced on August 18, 2026, marks a significant escalation in the country’s crackdown on crypto-based betting platforms and aligns Seoul with more than 30 nations that have already restricted access to the site.

Regulatory Decision and Legal Basis

The Korea Communications Standards Commission (KCSC), also referred to as the Broadcasting, Media and Communications Review Committee in some reports, held a communications deliberation subcommittee meeting on August 18 and voted to issue a corrective measure requiring internet service providers to block access to Polymarket. Regulators determined that Polymarket provides information that facilitates gambling under South Korea’s Criminal Act and enables activities classified as “similar acts” under the National Sports Promotion Act. The commission emphasized that technical features or service methods cannot exempt a platform from compliance with domestic law. “Since Polymarket provides a real illegal gambling environment to domestic users, access blocking is unavoidable to protect them,” the KCSC stated in its announcement.

Rising Popularity and Legal Gray Zone

Polymarket allows users to trade “Yes” or “No” shares on real-world events, from election outcomes to economic indicators and even local weather patterns like Seoul’s rainfall. Prices on the platform reflect the crowd’s implied probability of an outcome, and users can buy, sell, or hold positions before events resolve. Despite South Korean law prohibiting online wagering on event outcomes, the platform remained accessible for months, with users purchasing dollar-backed stablecoins on local exchanges, transferring them to personal wallets, and depositing them into Polymarket. In May 2026 alone, wagers placed by Korean users on the outcome of Seoul’s mayoral election reached $43.68 million on the platform. This surge in activity drew scrutiny from authorities. By June 2026, cybercrime units in Gangwon Province had begun charging domestic users with gambling offenses, tracing crypto-asset transaction records to identify suspects nationwide.

Polymarket’s Preemptive Moves

Ahead of the formal block, Polymarket took steps to limit its exposure in South Korea. In late July 2026, the platform discontinued Korean-language support and stopped displaying South Korea-related prediction markets to users in the country. However, the global English-language site remained accessible, and South Korea was not included on Polymarket’s official list of 39 restricted jurisdictions.

Enforcement and Penalties

The final access-block order will require South Korean telecom operators to enforce ISP-level restrictions, effectively making the site unreachable without circumvention tools. Users who attempt to bypass the block using VPNs or similar tools face individual enforcement risk under Article 246 of the Criminal Act, with fines of up to 10 million won (approximately $6,500).

What’s Next for Korean Users and the Crypto Industry

With ISP-level blocks imminent, Korean users will lose direct access to one of the most active prediction markets globally. The move underscores Seoul’s hardline stance on crypto-based gambling, even as the country advances broader digital asset legislation, including stablecoin frameworks and spot crypto ETFs. For content creators and crypto professionals tracking the space, the Polymarket ban signals tighter enforcement ahead and a potential shift toward compliant, regulated prediction market alternatives in the region.