Crypto rails made prediction markets global, gambling laws may make them local again

South Korean police opened the country’s first illegal gambling probe into domestic Polymarket users on Jun. 5, targeting residents who placed bets on the Jun. 3 local election outcomes. The Gangwon Provincial Police Agency is leading the investigation at the request of the National Police Agency, tracing cryptocurrency transaction records to identify users nationwide. Those identified face potential fines of up to 1…