Polymarket targets Japan, seeks 2030 regulatory approval

Polymarket seeks approval to operate in Japan by 2030, appointing a local representative to work with regulators and access the market despite strict gambling laws.

Polymarket, a global prediction market platform, is aiming to secure regulatory approval to operate in Japan by 2030. To support this goal, the company has appointed Mike Eidlin as its local representative, who will lead lobbying efforts and coordinate with regulators, legal experts, and industry groups. Japan represents a significant but largely untapped market for prediction markets. Despite strong interest from local users, current regulations restrict access. Due to Japan’s strict gambling laws, Polymarket currently blocks Japanese users from its platform. Most forms of betting are illegal in Japan, except for horse racing, lotteries, and pachinko. Polymarket argues that its event contracts function as information markets rather than gambling, but Japanese authorities may still classify them as gambling. The company plans to work closely with regulators to establish a legal framework for prediction markets, aiming to unlock new business opportunities in the region.