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The South Korean parliament rejected a special counsel investigation bill against South Korea's First Lady Kim Keon-hee earlier in December, but that hasn't stopped a betting market from opening asking whether she will be arrested by April.
That market opened at Polymarket January 1 with nearly 11 percent of those gambling that she will be taken into custody.
This market will resolve to "Yes" if the First Lady of South Korea Kim Keon-hee is arrested between December 31, 2024, and March 31, 2025, 11:59 PM ET. Otherwise, this market will resolve to "No".
The primary resolution source for this market will be official information from the arresting government and law enforcement, however a consensus of credible reporting may also be used.
The market was too new to know the exact number of wagers that had come in.
The December bill introduced in the South Korea parliament centered on allegations against the First Lady of stock price manipulation and poll result tampering through a power broker. 102 out of 300 lawmakers voted against the bill, reported Bloomberg.
Kim Keon-hee was acquitted in the case of stock manipulation linked to Deutsche Motors as the court ruled in favour of the defence, claiming that she was unaware of her account being used for transactions by an external manager, reported Korean daily Hankyoreh.
She also faced the ire of the public after a secretly recorded video was released on YouTube, showing her accepting a Dior luxury handbag worth $2,200 from a pastor, in violation of Korean law, which prohibits public officials from accepting gifts worth more than $750.
On Monday, South Korean law enforcement officials requested a court warrant to detain impeached President Yoon Suk Yeol as they investigate whether his short-lived martial law decree on Dec. 3 amounted to rebellion.
The Corruption Investigation Office for High-Ranking Officials, which leads a joint investigation with police and military authorities into the power grab that lasted only a few hours, confirmed it requested the warrant from the Seoul Western District Court. They plan to question Yoon on charges of abuse of authority and orchestrating a rebellion.
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