Games & Commerce

FTC orders Coupang, Naver and five other open markets to fix unfair terms, block privacy liability waivers

South Korea’s Fair Trade Commission said on April 27 it reviewed the terms of service of seven open market operators, including Coupang and Naver, and ordered corrections to 11 types of unfair clauses. The measures focus on fixing provisions that shifted onto users the responsibility for personal data protection and brokerage management that operators should bear. The operators submitted correction plans and plan to implement revised terms after amendment procedures.

Crypto

Polymarket profits concentrated as top 3.14 percent take more than 30 percent

A study analysing all Polymarket trades from 2023 to 2025 concluded the platform’s accuracy reflects an informed minority rather than the “wisdom of crowds.” The paper examined 1.72 million accounts across 210,322 markets and about $13.76 billion in trading. It classified 3.14 percent of accounts as skilled winners, who with market makers took more than 30 percent of profits. About 67 percent of accounts were classified as unskilled or unlucky losers and absorbed all losses.