South Korea has shut down access to Polymarket, calling it a gambling platform that fuels speculative betting on politics and sports — despite its decentralized, crypto-based structure. Regulators dismissed arguments that smart contracts or lack of Korean services exempt it, echoing bans in France, Australia, and Germany. The move follows JPMorgan’s severing of banking ties, highlighting global crackdowns on prediction markets as authorities prioritize gambling controls over digital innovation.
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