Taiwan Police Target Crypto Influencers Linked to Polymarket Election Betting
Taiwanese law enforcement has initiated an investigation into online influencers and community members involved in promoting a Polymarket contract related to Taiwan’s upcoming election.
According to a report from Taiwan-based media outlet BlockTempo, the country’s authorities have sent subpoenaes to several influencers and individuals within the crypto community.
Polymarket allows users to place bets on the outcome of the January election, with over $300,000 currently wagered on various contracts.
The market currently gives the Democratic Progressive Party’s Lai Ching-te, also known as William Lai, a 78% chance of winning.
However, betting on election outcomes is explicitly prohibited under Article 88-1 of Taiwan’s Presidential and Vice Presidential Election and Recall Act.
The law states that individuals gambling on election or recall outcomes in public or public-accessible places can face fines, short-term detention, or imprisonment for up to six months.
“Law enforcement agencies in Taiwan are vigilant in investigating any gambling activities related to presidential elections,” Sherman Lin, an attorney at Taipei-based Lin & Partners, said.
“Broad legal interpretations have been applied to gambling crimes under the Presidential Election and Recall Act, leading to investigations and convictions of gambling website operators in Taiwan targeting Taiwanese gamblers.”
While gambling on election outcomes is illegal in most U.S. states, enforcement is primarily handled by the Commodity Futures Trading Commission (CFTC).
Polymarket’s Terms of Use also prohibit U.S. persons from using the platform.
However, the jurisdictional challenges posed by overseas entities limit Taiwan’s legal reach primarily to domestic
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