Prince Treasure

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He emphasised the new system would make burdens less demanding than before, but the new ‘exit plan’ requirement and sharper duty‑of‑care definitions do bring some added complexity.

The KSA said that applicants were previously required to detail corrective actions taken to address previous breaches and outline measures to prevent future violations.

All submissions must also now include an exit plan – a new obligation that applies across the board. This requirement, intended to ensure orderly market withdrawal, marked a move toward embedding long-term risk management into the licensing process.

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Gyeonggi Province’s Office of Education has entered into a youth gambling prevention agreement with South Korea’s Gambling Control Commission (KGCC). 

A memorandum of understanding, signed on Monday, aims to tackle rising gambling exposure among schoolchildren through smartphones. The aim is to integrate preventative education with broader school-based initiatives.

The agreement was signed at Osan Seongho Middle School and links gambling prevention education with a “phone free” strategy alongside RAS education. RAS is an approach combining reading, arts and sports and is designed to occupy students’ time with structured, screen-free activities. 

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Each settlement involved cooperation with Kalshi’s investigation. 

What distinguishes Santos’ penalty is the exchange’s allegation that he actively issued false or misleading statements to alter prices and profited materially, violating additional rules such as failure to cooperate and manipulative conduct. 

These breaches escalated his sanction to a permanent ban and a significantly larger fine compared to others involved.