Polymarket seeks prediction market approval in Japan by 2030
- Polymarket has appointed a representative in Japan to lobby for market authorization.
- The platform aims for government approval by the year 2030.
- Mike Eidlin, head of Japan at cryptocurrency exchange Jupiter, is leading Polymarket’s efforts.
- Japan has strict gambling laws, with most betting forms prohibited under its criminal code.
- Polymarket reports “meaningful organic interest” from users in Japan.
As Polymarket pursues expansion into new markets, it faces challenges due to Japan’s stringent gambling regulations and cautious approach to crypto-related businesses. The platform’s push reflects a growing interest in decentralized prediction markets amidst legal scrutiny in other regions.
With plans for approval by 2030, Polymarket is actively working to establish itself within Japan’s tightly regulated environment while responding to user demand.(Source)
