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Polymarket reveals plans to launch in Japan by 2030
Polymarket has revealed plans to secure regulatory approval for its prediction market platform to launch in Japan by 2030.
In an effort to expand its prediction market offering in Asia, Polymarket has appointed a local representative in Japan to lead the lobbying efforts and follow compliance standards. It has been reported that the platform named Mike Eidlin for the role, who currently serves as head of the crypto project Jupiter in the country.
A Polymarket spokesperson stated:
“Polymarket has seen meaningful organic interest from users across Asia, including Japan, reflecting a broader global trend toward information markets as tools for understanding probability and uncertainty, not unlike how financial derivatives function in traditional markets. We’re always evaluating opportunities to expand access globally in compliant and locally appropriate ways and welcome dialogue with parties who share our interest in transparent, data-driven markets.”
At the moment, Polymarket imposes website blocks for local users because of regulatory requirements; however, prediction markets aren’t fully banned in Japan, as they operate in a legal grey area. For instance, NERO YOSO offers its legal prediction platform through the LINE NERO app, while Coinbase was accessible for Japanese users until 2023.
At the same time, Japan is in the process of restructuring its crypto asset regulations and changing it from the Payment Services Act to the Financial Instruments and Exchange Act by 2027, which would impose additional bans on unfair trading and establish new disclosure duties.
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