South Korean Police Trace Polymarket Traders Through Blockchain Records

South Korean police spent five months identifying individual Polymarket users through publicly available blockchain records and booked them on suspicion of illegal gambling, according to the Gangwon Provincial Police Agency’s cyber investigation unit.

Police Used Public Blockchain Data

Investigators examined transaction activity connected to Polymarket, a blockchain-based prediction market, to identify users believed to have participated in trades from South Korea. The investigation focused on linking publicly visible wallet activity with individual participants.

The users were booked on suspicion of violating South Korea’s laws governing illegal gambling. The case highlights how blockchain transparency can allow authorities to trace transactions even when participants use pseudonymous wallet addresses.

Platform Was Accessible During Investigation

The investigation took place while Polymarket remained legally accessible to users in South Korea. The platform has since been blocked in the country, according to the report.

Prediction Markets Face Regulatory Scrutiny

Prediction markets allow users to take positions on the outcomes of political, economic, sporting and other events. Their legal treatment varies by jurisdiction, with regulators and law-enforcement agencies often examining whether such activity constitutes gambling or falls under financial-market rules.

The South Korean case demonstrates the increasing attention authorities are giving to blockchain-based prediction platforms and the transaction data generated by their users.