Polymarket is reportedly preparing a long-term push into Japan as the company seeks formal regulatory approval to operate there by 2030.
According to reports cited by Bloomberg, Polymarket has appointed Mike Eidlin — currently associated with Jupiter — to oversee its Japan strategy and begin discussions around legal market access.
Despite the expansion effort, Japan currently remains on Polymarket’s restricted jurisdictions list. The platform says users from Japan are blocked because of regulatory and compliance requirements.
The challenge for Polymarket is that Japan maintains some of the strictest gambling laws among major economies. Unauthorized gambling operations can lead to criminal penalties, while only specific state-approved betting sectors — such as horse racing and lotteries — operate legally.
The move comes during a period of growing global scrutiny toward crypto-based prediction markets:
- India recently moved to block access to Polymarket and similar services.
- Authorities in Argentina, Colombia, and Romania have also imposed restrictions.
- In the U.S., some state regulators and the Commodity Futures Trading Commission continue debating whether prediction markets resemble regulated derivatives products or unauthorized gambling.
At the same time, Polymarket is still expanding commercially. The company recently partnered with Nasdaq Private Market to create prediction products tied to private-company valuations and IPO activity.
Reports also suggest Polymarket may pursue new funding at a valuation near $15 billion, reflecting continued investor interest despite mounting regulatory pressure.
The broader debate now centers on whether prediction markets should be treated as:
- financial forecasting tools,
- derivatives exchanges,
- or online betting platforms.
That distinction will likely determine whether countries like Japan eventually allow platforms such as Polymarket to operate legally.
