TAIPEI (TVBS News) — Yunlin County Police Bureau cracked down on an illegal gambling operation on Saturday (Dec, 16), that accepted bets on the outcome of the presidential election using virtual currency.
Seventeen bettors were arrested, and police confiscated approximately NT＄171,661 in gambling funds, the police bureau revealed.
The individuals were arrested for violating the Presidential and Vice Presidential Election and Recall Act.
Of those detained, eight were released after questioning by prosecutors who saw no need to hold them further. However, the remaining nine were retained for further summons.
The illicit betting came to light when the Yunlin police's internet patrol unit spotted a decentralized betting platform, Polymarket, that had set up betting pools for three presidential candidates.
The bet titled "Taiwan Presidential Election: Who will win?" allowed bettors to wager on the election outcome.
Police noted that the online players could place bets on certain event outcomes using USDC, a virtual currency, from their own digital wallets, following their personal preferences and predictions.