Is Polymarket legal in South Korea?
Polymarket is currently accessible from South Korea. The country is not on Polymarket's blocked countries list.
That said, South Korea has strict gambling laws. All forms of online gambling are illegal for Korean citizens under the National Sports Promotion Act and the Criminal Code, with very limited exceptions. Whether prediction markets fall under these laws depends on legal interpretation.
How Korean regulations apply
South Korea's gambling prohibitions are among the strictest globally. Korean citizens are prohibited from gambling online or at foreign casinos (except Kangwon Land, the only casino open to locals). Violations can result in fines and imprisonment.
However, South Korea has a growing crypto market. Cryptocurrency is legal and regulated under the Virtual Asset User Protection Act. Major exchanges like Upbit and Bithumb operate with regulatory approval. The question of whether trading on prediction markets constitutes "gambling" is not settled in Korean law.
How to access from South Korea
- Visit Polymarket and sign up with your email
- Deposit via credit card or buy USDC on a Korean exchange and transfer
- Start trading
New to this? Read what is Polymarket for a complete overview.
Tax implications
South Korea has been planning a 20% crypto tax on gains above 2.5 million KRW, but implementation has been delayed three times. The tax is now scheduled for January 2027, though a fourth delay is considered possible. As of early 2026, no crypto capital gains tax is in effect in South Korea.
