South Korean regulator begins review of Polymarket for illegal gambling

South Korea's Korea Communications Standards Commission (KCSC) has launched a review into whether the prediction market platform Polymarket constitutes illegal gambling, Sisa Journal reported. The KCSC is a government body responsible for reviewing illegal online content, such as gambling and defamation, and can take action, including blocking access to platforms found to be in violation. At a meeting today, the commission's telecommunications subcommittee announced it would give Polymarket an opportunity to present its case to thoroughly examine the platform's legality and operational methods. A final decision on whether to issue a corrective order will be made after a comprehensive review of the submitted materials, the subcommittee added.