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

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

According to reports, Polymarket views Japan as an important yet underdeveloped market. Due to Japan's strict gambling regulations, Polymarket has currently blocked Japanese users from participating in prediction market transactions.

Under Japanese criminal law, habitual gambling can be punishable by up to three years in prison, while 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 Asia-Pacific region and continues to evaluate opportunities to expand global market access in a compliant manner. (Bloomberg)