South Korean Police Identify 26 Polymarket Users Through Blockchain Record Analysis

According to Arzdigital, citing South Korea's National Police Agency, the agency identified 26 users of the decentralized prediction platform Polymarket through analysis of public blockchain data after a five-month investigation, and is pursuing them on illegal gambling charges. The action took place before the site was officially blocked in South Korea, and the cases of 18 suspects have so far been referred to prosecutors for criminal proceedings. The report said the users' combined stakes totaled about $12.7 million (17.6 billion won), with the largest single trader placing $4.1 million in orders. The charge is based on Article 246 of South Korea's Criminal Act, under which any element of chance in an activity can qualify it as gambling.