Polymarket aims to enter the Japanese market! Report: Striving to obtain an operating license by 2030

📄Full Article· Automatically extracted by trafilaturaGemini 翻譯1275 words

Polymarket, the world's largest decentralized prediction market, is actively expanding its footprint in Asia. According to Bloomberg, citing people familiar with the matter, the company has appointed a representative in Japan to prepare for political and business lobbying, aiming to secure a legal operating license in Japan by 2030. Anonymous sources revealed that Polymarket executives view Japan as a "massive and untapped blue ocean opportunity." It is reported that the pioneer effort for Polymarket's entry into the Japanese market is being led by Mike Eidlin. LinkedIn data shows that he previously served as the Japan lead for the well-known cryptocurrency project Jupiter, though he declined to comment on whether he has officially joined Polymarket to lead the lobbying efforts. Regarding these rumors, Polymarket officials declined to comment, and a spokesperson for the Japanese Ministry of Justice also refused to confirm whether any contact had taken place. Facing internal and external pressures, the company is urgently seeking new overseas markets. Polymarket's core business allows global users to use cryptocurrency to place bets and predict probabilities on major real-world events (such as presidential elections and geopolitical developments). However, due to Japan's strict gambling regulations, the company has deliberately kept its distance and has not conducted any high-profile promotions within Japan. According to its official website, due to "regulatory requirements," Polymarket still fully blocks access to its website and app for users within Japan. Polymarket's urgency to find a breakthrough is driven by operational pressures. The company is currently facing severe regulatory scrutiny in the United States and intense competition from compliant rivals like Kalshi, making the expansion of its overseas user base a priority. Data shows that the "Notional Trading Volume" (the total value of contracts) for Polymarket's offshore exchange and US app was $10.3 billion in April, a 9% decline from the previous month. Operating in a gray area, Japan's gambling laws pose the biggest challenge. In Japan, the gambling industry has long existed in a legal gray area. Under Japan's Penal Code, habitual gambling can result in up to 3 years of imprisonment, while those operating casinos can face up to 5 years. However, there are a few regulated exceptions, such as government-sanctioned horse racing and public lotteries. Regarding the legality of prediction markets, a representative from the Japanese Ministry of Justice declined to comment, emphasizing that future cases will be strictly reviewed on a case-by-case basis in accordance with the Penal Code. It is worth noting that while Japan strictly restricts cash gambling, it has fostered a unique "Pachinko" industry. Pachinko players can win prizes from machines, and while operators do not provide direct cash exchanges, players can convert prizes into cash through exchange shops, thereby circumventing gambling bans. According to data from the Japan Productivity Center, as of 2024, the Japanese Pachinko and slot machine market is valued at 16 trillion yen (approximately $100 billion), representing an astonishing amount of capital. Regarding the prospects for the Japanese market, a Polymarket spokesperson stated that they have observed "significant organic growth demand" emerging in Japan and across the broader Asian market. He emphasized: We are always evaluating opportunities for global expansion, provided that we comply with local regulations and proceed in the most appropriate and localized manner. In fact, despite not having officially launched, Polymarket's official Japanese X account has already accumulated over 53,000 followers. Sources revealed that during this transition period while awaiting government approval, Polymarket will use social media to frequently post news and updates to gradually solidify its local presence and influence.

Data Status✓ Full text extractedRead Original (區塊客)

🔍Historical Similar Events· Keyword + Asset Matching6 items

2026-05-25

Prediction markets hit again! Indonesia blocks Polymarket, all because the betting market on President Prabowo stepping down crossed the red line

Similarity 120%關鍵字 polymarket同分類 zh

2026-05-24

Trump says US-Iran deal is "imminent," Polymarket odds of a nuclear agreement this year soar to 81%

Similarity 120%關鍵字 polymarket同分類 zh

2026-05-22

Polymarket is blocked in Taiwan! Developer who accidentally touched election betting markets reveals: Woken up by police in the middle of the night for questioning

Similarity 120%關鍵字 polymarket同分類 zh

2026-05-22