A Taiwanese Citizen Faces Trial for Cryptocurrency Betting on National Election Outcome

A man has been accused of violating Taiwan’s “Presidential and Vice Presidential Election Invalidation Act” for using an online encrypted gambling website to bet on the presidential election.
According to Taiwan’s LTN News, at the end of 2023, the Shilin County Prosecutor’s Office accused Chen of placing bets of around $500 on the presidential election using the cryptocurrency gambling website Polymarket.
Reportedly, Chen visited the Polymarket website on his mobile phone and placed a bet of $472.17 for Ko Wen-je to win the presidential election. He also bet $60.16 that the Democratic Progressive Party would win the majority seats in the Legislative Yuan.
Authorities revealed that Chen will have to appear in court to face the charges as he made the bets between December 17th and XNUMXth, about a month before the election.
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The prosecutor also accused Chen of betting on the election results of the central government using the internet, which violates the “Public Officials Election Act.” The act also provides that drug addicts can receive community treatment instead of punishment, but if found gambling, they can be sentenced to up to 6 months in prison or fined up to NT$1 million ($3,100), depending on the election results of the country.
Organizing gambling activities, seeking personal gain, creating conditions for gambling, or inciting others to participate can result in a maximum sentence of five years imprisonment and/or a fine of up to NT$500,000 ($500,000).
Chen admitted to the crimes and cooperated with the police investigation. Considering that he has no criminal record, he was allowed to pay a fine of $4,000 and the prosecution was postponed for one year.