South Korean police investigating Polymarket users for gambling, lawyer says

The Gangwon Provincial Police Agency is investigating users of the prediction market platform Polymarket on suspicion of gambling, according to Ahn Chang-bo, an attorney at Law Office Jonjung and a former prosecutor specializing in gambling cases. In a recent blog post, Ahn stated that the agency's Cyber Investigation Division is tracking users' cryptocurrency transaction histories to identify them and is issuing summonses in sequence. He noted that he recently attended a suspect interrogation for a client summoned in connection with the investigation. Ahn added that the police are currently treating Polymarket activity as gambling and that the case is expected to be transferred to the Chuncheon District Prosecutors' Office upon completion. However, he clarified that there has not yet been a ruling from prosecutors or the courts on whether using Polymarket constitutes a gambling offense under South Korean criminal law. The situation calls for caution among Polymarket users in the country.