A Polymarket gambler in Taiwan is going through authorized penalties for wagering on the result of the presidential election earlier this yr.
The person, named Chen, used the Polymarket playing web site to guess 472.17 USDC on Ke Wenzhe’s victory within the presidential race and one other 60.19 USDC on the Democratic Progressive Social gathering’s (DPP) capacity to win extra legislative seats.
After an investigation, Taiwanese authorities accused Chen of violating election legal guidelines however supplied him a deferred prosecution, citing his responsible admission. The deferred prosecution particulars that between December 12 and 17 of the earlier yr, Chen accessed Polymarket by way of his cell phone and positioned his bets.
His actions violated an act that particularly bans web playing on election outcomes. Moreover, his bets fell beneath the scrutiny of the “Public Servants Recall Act,” which criminalizes playing on election outcomes involving central public officers.
Regardless of the overwhelming quantity of proof, prosecutors thought of Chen’s lack of legal data and his cooperative demeanor through the investigation. Consequently, Chen was granted deferred prosecution for one yr, offered he paid a tremendous of 30,000 yuan to the general public treasury.
Deferred prosecution is sort of a second-chance for first-time offenders like Chen to keep away from fast sentencing on the situation of admitting their wrongdoing.
In 2019, US citizen Eric Behnke, who operated a web-based on line casino known as “Seals with Golf equipment,” was arrested and charged with working an unlawful playing enterprise and cash laundering. The positioning allowed customers to gamble with Bitcoin and was one of many first of its sort to simply accept cryptocurrency as a type of cost.
With the rise in digital belongings, the net playing scene has launched new complexities and dangers equivalent to anonymity and ease of transactions. The circumstances of Chen and Behnke spotlight the authorized perils of crypto playing.
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