South Korea blocks domestic access to Polymarket

Domestic access to prediction market platform Polymarket has been blocked in South Korea. The Korea Communications Standards Commission had approved the access block at a subcommittee meeting on Aug. 18, saying Polymarket has a winner-takes-all profit-and-loss structure in which financial gains or losses hinge on the outcome of events users cannot control, such as politics, the economy and weather, and therefore was judged to encourage gambling.