South Korea’s President To Be Impeached In 2024? Polymarket Traders Are Unsure
Political uncertainty surrounding South Korean President Yoon Suk Yeol has spurred heated activity on prediction market Polymarket on Wednesday.
What Happened: Data from the prediction market shows a 37% probability of Yoon being impeached before the end of 2024.
Another Polymarket question gives a 29% chance of Yoon being removed from office, underscoring heightened political instability in the country.
This uncertainty has already rippled through South Korea’s financial markets.
Key technology and industrial stocks have taken a hit, with Samsung Electronics (OTC:SSNLF) down 1.12%, NVIDIA (NASDAQ:NVDA) supplier SK Hynix (OTC:HXSCF) slipping 0.061%, and Hyundai Motor (OTC:HYMTF) falling 0.70%.
The turmoil has also affected U.S.-listed South Korean equities, with Posco Holdings (NYSE:PKX) dropping 4.36% in regular trading before seeing a …
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