Crypto Gambler Busted for Betting on Taiwanese Election

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Taiwanese gambler faces prosecution for crypto bets on the presidential election.
The gambler used the Polymarket platform and USDC stablecoin for the bets.
The case highlights the legal risks associated with crypto gambling.

A Polymarket gambler in Taiwan is facing legal consequences for wagering on the outcome of the presidential election earlier this year.

The individual, named Chen, used the Polymarket gambling website to bet 472.17 USDC on Ke Wenzhe’s victory in the presidential race and another 60.19 USDC on the Democratic Progressive Party’s (DPP) ability to win more legislative seats.

After an investigation, Taiwanese authorities accused Chen of violating election laws but offered him a deferred prosecution, citing his guilty admission. The deferred prosecution details that between December 12 and 17 of the previous year, Chen accessed Polymarket through his mobile phone and placed his bets.

His actions violated an act that specifically bans internet gambling on election outcomes. Additionally, his bets fell under the scrutiny of the “Public Servants Recall Act,” which criminalizes gambling on election results involving central public officials.…

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