South Korean police launch their first investigation into illegal gambling by Polymarket's domestic users.

South Korean police are investigating domestic users of the prediction market platform Polymarket on suspicion of illegal gambling. While Polymarket is legal in the United States, it is considered private gambling and is classified as illegal in South Korea. The Gangwon Police Agency, commissioned by the Korean National Police Agency, is investigating users nationwide, including in Gangwon Province. This is the first time Polymarket users have been investigated in South Korea. Under current law, betting on all gambling websites is illegal, except for Sports Toto, operated by the Korea Sports Promotion Agency. Polymarket domestic users could face fines of up to 10 million won.