Polymarket Appoints Japan Representative for Regulatory Approval Bid
- Polymarket has appointed Mike Eidlin, formerly of Jupiter, as its Japan representative.
- The company aims to secure regulatory approval in Japan by the year 2030.
- Japan currently restricts Polymarket due to regulatory requirements and compliance with international sanctions.
- Polymarket’s Japanese social media presence has over 53,000 followers, with contracts tied to local events.
- In April, Polymarket’s notional volumes were $9.967 billion compared to Kalshi’s $14.647 billion.
Polymarket is preparing to enter the Japanese market by appointing Mike Eidlin as its representative and seeking government approval by 2030. Despite current restrictions due to regulatory requirements, the platform sees significant interest from Japanese users.
The company’s push into Japan comes amid a competitive landscape where rival Kalshi has seen higher trading volumes recently. Polymarket’s strategic move aims to capitalize on growing interest in prediction markets within Asia while navigating strict regulations effectively.(Source)
