According to data submitted by Democratic Party lawmaker Yoon Kun-young's office from the National Police Agency on the 17th, the Gangwon Provincial Police Agency's cyber investigation unit booked 26 Polymarket users as of the 15th of this month, and sent 18 of them to the prosecution, Asia Economy reported. The cumulative betting amount of the booked suspects is approximately 17.6 billion won based on Korean won conversion, and the highest betting amount per person was investigated to be approximately 5.7 billion won. Polymarket is a virtual asset-based prediction platform where users predict whether a specific event related to global political, social, and economic issues will occur with 'yes' or 'no,' and depending on the outcome, receive 1 USDC or 1 pUSD per share, or lose their investment. The police's position is that trading activities on Polymarket constitute clear illegal gambling. Accordingly, the police have identified and tracked individual users by analyzing public blockchain transaction records using open-source intelligence (OSINT) techniques. Previously, the Korea Communications Standards Commission (KCSC) resolved to block access to Polymarket on the 18th of last month.
