According to Odaily Planet Daily, South Korean police are investigating local users of the prediction market platform Polymarket for suspected illegal gambling. Polymarket is a private gambling platform in South Korea and is considered illegal under current laws. Police sources indicate that the Gangwon Police Agency, commissioned by the National Police Headquarters, recently launched an investigation into Polymarket's domestic users. This is the first such operation targeting domestic users and covers the entire country, including Gangwon Province. Under Article 246 of the South Korean Criminal Code, all gambling activities are illegal except for Sports Toto, operated by the National Sports Promotion Agency with a betting limit of 100,000 won. Users involved could face fines of up to 10 million won. Lawyers for some of the investigated users pointed out that while the cases meet the criteria for illegal gambling, the severity of the penalties is difficult to predict due to the lack of precedent for punishment for using Polymarket in South Korea. Currently, accessing Polymarket does not require IP proxies, and the platform does not impose restrictions even when South Korean users place bets using USD stablecoins. The June 3rd local elections have become a popular betting target, with betting amounts reaching tens of billions of Korean won. (Chosun)

According to Odaily Planet Daily, on-chain analyst Yu Jin reports that ETH has been falling by more than $100 per day in recent days. Hyperliquid's largest long position in ETH opened 120,000 ETH long positions at an average price of $2,261, worth $271 million, and is currently experiencing a floating loss of $73.66 million. The liquidation price for many of its positions is between $1,300 and $1,400. After adding $26 million in margin in recent days, the liquidation line has decreased.

In the past hour, total liquidations across the network reached $475.85 million, with $424.69 million from long positions, with $51.15 million from short positions. BTC liquidation $133.93 million, ETH liquidation $152.69 million.

According to data from Coinglass, Odaily Planet Daily reports that total liquidations across the network reached $515 million in the past hour, including $459 million in long positions and $50.11 million in short positions. In addition, ETH liquidations amounted to $170 million and BTC liquidations amounted to $143 million.

According to MSX.COM data, the Nikkei 225 index closed down 1.31% at 66,588.12 points; the South Korean KOSPI index closed down 5.54% at 8,160.59 points. SK Hynix fell nearly 10%, and Samsung Electronics fell more than 6%.