South Korea Restricts Polymarket: Global Crypto Prediction Market Faces Regulatory Crackdown

South Korea has become the latest jurisdiction to restrict access to Polymarket, the popular crypto-based prediction market platform. With this move, the country joins a growing list of over 30 global regulatory bodies that have imposed limitations on the platform's operations. The decision highlights the increasing regulatory scrutiny surrounding decentralized prediction markets and their compliance with local gambling and financial laws. For traders and investors in the crypto space, this development signals a potential shift in how prediction market platforms like Polymarket operate across different regions, potentially impacting market liquidity and user participation. The restriction underscores the ongoing tension between decentralized finance (DeFi) innovation and traditional regulatory frameworks.