Polymarket Speculators Betting on Ko Wen-je’s Victory: Hsinchu Engineer Loses Money and Receives 20-Day Detention with 2-Year Probation
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Hsinchu Engineer Sentenced to 20 Days Detention and 2 Years Probation for Playing Polymarket
Judge Gives Lenient Sentence after Consideration
Hsinchu Engineer Sentenced to 20 Days Detention and 2 Years Probation for Playing Polymarket
According to the Criminal Summary Judgment of the Hsinchu District Court, engineer Mr. Liu from Hsinchu placed bets through the prediction platform “Polymarket” last year, specifically on the Taiwan Presidential Election event titled “Taiwan Presidential Election: Who will win?”
On December 11th last year, Mr. Liu placed a bet on the victory of Mr. Ko Wen-je, betting 49.99 USDC tokens at odds of 1:5.2631.
If Mr. Ko Wen-je won, he would have won 263.1 USDC tokens. In the end, he lost about NT$1,600, and was caught by the police for affecting the fairness of the election result.
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The Hsinchu District Court sentenced Mr. Liu to 20 days detention and 2 years probation for the offense of “gambling assets related to election results through the internet.”
Hsinchu District Court Criminal Summary Judgment
Lenient Sentence Given by the Judge
Considering Mr. Liu’s admission of guilt, acceptable attitude after committing the offense, and the short duration of the illegal gambling, the court sentenced him to 20 days detention, with a fine of NT$1,000 per day if he chooses to pay the fine in lieu of detention.
In addition, the judge took into account Mr. Liu’s lack of criminal record and his admission of guilt after the offense. After going through the trial process, it is believed that Mr. Liu will not reoffend. Therefore, he was given a probation period of 2 years as encouragement for rehabilitation.
Previously reported, according to Article 88-1 of the President and Vice President Election and Recall Act, anyone participating in gambling related to election results in public places or places accessible to the public may face imprisonment for up to six months or a fine.
This also applies to gambling conducted through telecommunication devices, the internet, and other means. Furthermore, providing venues for gambling or organizing group gambling may result in imprisonment for up to five years and a fine.
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Polymarket Election Gambling Incident: How Was I Caught?
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Polymarket
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Polymarket Election Gambling Incident: How Was I Caught?
