报告称：韩国Polymarket用户被标记并移交检察官处理

韩国警方将18名Polymarket用户移送检方，涉赌资约176亿韩元

据报道，韩国警方已将18名Polymarket用户移送至检察机关，作为一起涉及26名嫌疑人、赌注总额约为176亿韩元（约合1,270万美元）的非法赌博调查的一部分。据引用国家警察厅数据的报道显示，该案件基于对链上活动的分析。

当局表示，尽管该平台未建立传统的实名制用户注册系统，但通过审查与Polymarket相关的公开区块链交易，成功锁定了参与者。嫌疑人被指控在事件结果上下注，而根据韩国法律的解释，这构成了赌博行为。

关键要点

• 韩国警方已基于涵盖26人及约176亿韩元赌注的调查，将18名Polymarket用户移送检察官。
• 据报道，调查人员利用公开的区块链交易数据，将个人与该平台的活动联系起来。
• 当局认为Polymarket的交易符合韩国《刑法》中关于非法赌博的规定，而用户则将其定性为基于加密货币的衍生品投资。
• 在此前的行动中，警方于6月展开调查，并在8月1日做出封锁Polymarket的决定，监管机构认为该平台结构助长了投机性赌博。

从链上活动构建调查线索

According to Asian Economy, data submitted by the National Police Agency to Democratic Party MP Yoon Kun-ying showed that as of Tuesday, a total of 26 people were under investigation at the Gangwon Police Agency, and 18 of them had been transferred to the prosecutor's office. The media also reported that the maximum bet involved in a single user was approximately 5.7 billion won (approximately 4.1 million US dollars).

Reported that police identified suspects by analyzing public blockchain transactions. This is critical because Polymarket is described as having an unmanaged, peer-to-peer model with automated billing capabilities, which means it does not maintain traditional user lists tied to traditional real-world identities. In other words, the investigation appears to rely on the traceability of trading patterns rather than account records maintained by the platform.

The basic premise of Polymarket is that participants can buy and sell contracts linked to the outcome of real-world events. When these results are determined, settlement is processed through smart contracts. The Asian Economy report pointed out that investigators ultimately determined that these contract positions were functionally equivalent to bets under local laws.

Legal Dispute: Gambling or Derivatives?

Authorities reportedly argued that Polymarket's transactions constituted illegal gambling under South Korea's Criminal Code. The report points out that this classification is based on users betting assets on outcomes that cannot be predicted with certainty.

However, users refuted this. Asian Economics reported that the suspects argued that Polymarket should be regarded as a cryptocurrency-based derivatives investment market, not a gambling venue. This argument reflects a common strategy among prediction market operators: Trading event-linked contracts can be similar to derivatives activity, including the ability to enter and exit positions before the contract is settled.

Jin Tailin, a senior lawyer at AXIS Law Firm, told Asian Economy that these transactions may meet the legal requirements of gambling. He also said it could be difficult to strictly defend such activities as "predictive derivatives" in criminal proceedings. At the same time, he pointed out that the ability to trade contracts and close their positions before contract settlement may still become a relevant consideration when courts assess the overall nature of the activity.

Regulatory pressure escalates first

This transfer comes after a visible escalation in South Korea's strengthened enforcement of Polymarket. In June, at the request of the National Police Agency, the Gangwon Police Department launched a so-called South Korea's first illegal gambling investigation into local Polymarket users. Previous reports pointed out that the case was initially launched in the form of illegal gambling inquiries.

Subsequently, on August 18, South Korean authorities reportedly decided to block Polymarket on the grounds that they believed it provided an illegal gambling environment for users in the country. Previous reports pointed out that the decision to block stemmed from concerns about predicting whether market activities would be regulated by the existing gambling framework.

报告还引用了韩国媒体与通信审查委员会的理由：该委员会表示，该平台“赢家通吃”的结构鼓励了投机性赌博。委员会指出了Polymarket在市场运营和制定交易规则中的作用，以及平台处理加密存款、取款、结算和交易费用的方式。

据报告总结，Polymarket的回应是，它不提供韩语服务或支持韩元付款。该平台还辩称，由于交易是非托管的并通过智能合约执行，因此它不直接管理用户的资金。监管机构驳回了这一论点，指出技术设计特征不能使服务免除韩国法律的约束。

对用户及韩国预测市场的影响

对于市场参与者而言，将18名用户移送至检察机关的信号表明，执法不再局限于调查或下架行动——而已进入正式法律程序。据报道使用区块链交易分析表明，即使平台不维护直接的实名客户名单，当局也可能能够映射参与者。

对于预测市场平台及其他类似“衍生品”的加密货币产品，这场争端凸显了一种结构性张力：即使一项服务在技术上是非托管的且结算是自动化的，监管机构仍可能根据用户如何对不确定结果投入价值以及如何分配利润（包括交易是否更像投机而非对冲），来评估该活动是否 resembles 赌博。

各方应关注检察官是否会将该案范围扩大至最初的26人小组之外，以及法院如何解读围绕衍生品定性的辩护论点，特别是合约结算前实际交易和退出头寸的能力。