Prediction market platform Polymarket has appointed a representative in Japan and aims to secure government approval to operate there by 2030. The move comes as the company faces legal pressures in the United States.
Polymarket is set to lobby Japanese authorities for authorization of prediction markets, according to a Bloomberg report. The platform has named Mike Eidlin, head of Japan at cryptocurrency exchange Jupiter, to lead its efforts in the country.
Initial reactions on X note Polymarket's Japan push as a step toward mainstream legitimacy for prediction markets, with some highlighting regulatory hurdles in a strict market and potential for increased global volume and adoption.
Polymarket is actually seeking approval to operate in Japan by 2030
— Fury (@FuryMetaa) 22 Mei 2026
And they’ve appointed a local representative to support regulatory discussions
That's a clear sign prediction markets are moving toward mainstream legitimacy pic.twitter.com/2WluPWgtuV
JUST IN: 🇯🇵 Polymarket is targeting Japan regulatory approval by 2030.
— Wizzy (@WizzyOnChain) 22 Mei 2026
Japan's one of the strictest prediction market environments globally. If it clears, every other holdout market gets harder to justify. https://t.co/Xt3DQpAChm pic.twitter.com/p9njyGuKBu
Polymarket is reportedly aiming for prediction market approval in Japan by 2030.
— PBG (@PBGtoken) 22 Mei 2026
That is a difficult market to enter: Japan has strict gambling rules, tight crypto licensing and a cautious regulatory culture.
The move shows where prediction markets are heading. They cannot… pic.twitter.com/GUHy2LS8sZ
japan dragging it to 2030 tracks but polymarket forcing the door open there is lowkey huge for legit adoption
— treyerl💎 (@treyerl) 22 Mei 2026
🚨 Polymarket Japan approval by 2030 now trading at 68% on the platform. Asian expansion could flip prediction markets globally. This is the move everyone's been waiting for @PolyX_future
— PolyX (@PolyX_future) 23 Mei 2026
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Prediction market platform Polymarket has partnered with blockchain analytics firm Chainalysis to monitor trading activity and detect potential insider trading. The collaboration introduces onchain tools to flag suspicious patterns amid rising regulatory scrutiny. Polymarket announced the move on Thursday.
Indonesia has blocked access to the crypto prediction market Polymarket after classifying the platform as illegal online gambling under local law.
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Residents in Hong Kong continue to use platforms like Polymarket and Kalshi for bets on politics and other topics even after official warnings.
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Polymarket funded dozens of social media creators to post videos of simulated bets on cloned websites, according to a Wall Street Journal investigation. The promotion aimed to attract users to its prediction market platform despite US restrictions.
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SBI Securities and Rakuten Securities are developing crypto investment trusts in-house. Nomura, Daiwa and SMBC plan to follow suit as Japan prepares rules allowing crypto-holding funds by 2028.