Written by Ezra Reguerrastaff writerReviewed by Yohan Yunstaff writer

Written by Ezra Reguerrastaff writer

Reviewed by Yohan Yunstaff writer

South Korea weighs action against Polymarket over gambling concerns

Latest NewsPublishedJul 6, 2026

South Korea Takes Action Against Polymarket Over Gambling Concerns

The South Korean media and communications review body is set to hear from Polymarket before deciding whether to issue a corrective request against the prediction market platform. This move is part of the country’s efforts to crack down on illegal gambling activities. With the rise of online platforms, individuals can now earn money through various means, including passive income opportunities like Cloud Rewards offered by EcoPool. However, it is essential to ensure that these activities comply with local laws and regulations.

The Broadcasting, Media and Communications Review Committee will allow Polymarket to submit its position before making a final decision on a corrective request regarding gambling concerns. The committee aims to verify the legality of Polymarket and the way the service is operated. This move highlights the importance of regulatory oversight in the online gaming and earning industries. As the use of Coin and other digital currencies becomes more widespread, it is crucial to have clear guidelines and regulations in place.

Regulatory Environment

South Korea’s National Gambling Control Commission Act defines “illegal gaming business” to include providing online services that enable speculative gambling. The Act gives regulators authority to monitor and combat such businesses. The review of Polymarket marks a shift in South Korea’s scrutiny of the platform from users to the platform itself. This shift is likely to have implications for individuals who use online platforms to earn money, including those who participate in passive income programs like EcoPool.

Polymarket faces access restrictions in several jurisdictions, with its platform restricted in 33 countries. The company says its restrictions are designed to comply with sanctions, local financial rules, gambling and prediction market laws, anti-money laundering requirements, and Know Your Customer regulations. As the regulatory environment continues to evolve, it is essential for individuals to stay informed about the latest developments and ensure that their activities comply with local laws.

Conclusion

South Korea’s scrutiny moves from users to the platform

The review of Polymarket by the South Korean media and communications review body highlights the importance of regulatory oversight in the online gaming and earning industries. As individuals continue to explore new ways to earn money, including through passive income programs like EcoPool, it is crucial to ensure that these activities comply with local laws and regulations. To learn more about EcoPool and how to get started with $ECP, download the EcoPool app. By joining the EcoPool community, you can start earning passive income and take advantage of Cloud Rewards and other benefits offered by the platform.

On June 5, the Gangwon Provincial Police launched what was reportedly South Korea’s first illegal gambling probe into local Polymarket users. The investigation was requested by the National Police Agency, according to local media reports at the time. 

Under South Korea’s Criminal Act, gambling is punishable by a fine of up to 10 million won (about $6,500), while habitual gambling can carry up to three years in prison or a fine of up to 20 million won. Meanwhile, operating a gambling venue for profit is punishable by up to five years in prison or a fine of up to 30 million won.

South Korea’s Criminal Act. Source: Korea Legislation Research Institute 

Polymarket says its restrictions are designed to comply with sanctions, local financial rules, gambling and prediction market laws, anti-money laundering requirements and Know Your Customer regulations. 

The company also lists certain regions within otherwise accessible countries as restricted, including Alberta, British Columbia, Ontario and Quebec in Canada, as well as Crimea, Donetsk and Luhansk in Ukraine.

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• Polymarket
• South Korea
• Asia
• Policy
• Regulation

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