Polymarket seeks Japanese government approval, plans to enter the local market by 2030

Odaily Planet Daily reports that the prediction market platform Polymarket is seeking approval from the Japanese government and plans to operate a prediction market business in Japan by 2030. It has already appointed local representatives to carry out lobbying efforts.

According to reports, Polymarket considers Japan a major yet underdeveloped market. Due to Japan's strict gambling regulations, Polymarket has already blocked Japanese users from participating in prediction market trading.

Under Japanese criminal law, habitual gambling is punishable by up to three years in prison, and operating a gambling business can carry a maximum sentence of five years. A Polymarket spokesperson stated that the company has observed "substantial organic interest" from users in Japan and the Asian region and is continuously evaluating opportunities to expand global market access in a compliant manner. (Bloomberg)