Mike

Token

United

Polymarket

Polymarket, a global prediction market platform, is reportedly seeking entry into Japan amid growing regulatory scrutiny of the sector worldwide.
The company has appointed Mike Eidlin, head of Japan at crypto firm Jupiter, to lead its local efforts and is preparing to lobby for authorization of prediction markets in the country, Bloomberg <a href="https://www.bloomberg.com/news/articles/2026-05-22/polymarket-is-said-to-seek-japan-market-approval-in-global-push" rel="noopener noreferrer nofollow">reported</a> Friday, citing people familiar with the matter.
Polymarket is targeting government approval in Japan by 2030, viewing the market as a major untapped opportunity.
The plans come as prediction markets, including Polymarket and rival Kalshi, face increased regulatory pressure globally, with countries such as India among the latest to move against the platforms.
<h2 id="japan-s-strict-gambling-rules-pose-hurdle">Japan’s strict gambling rules pose hurdle</h2>
Japan has strict laws around online gambling, permitting betting only on select government-authorized activities such as horse racing and public lotteries.
Authorities have stepped up scrutiny of online betting in recent years, with <a href="https://www.japantimes.co.jp/news/2025/05/15/japan/crime-legal/japan-sports-betting-survey/" rel="noopener noreferrer nofollow">violations</a> linked to online casino use carrying fines of up to $3,400 and potential prison sentences of up to three years for repeat offenses.
Polymarket reportedly said the company has seen “meaningful organic interest from users” in the country and across Asia, adding: “We’re always evaluating opportunities to expand access globally in compliant and locally appropriate ways.”
Cointelegraph approached Polymarket for comment but had not received a response by publication.
Related: <a href="https://cointelegraph.com/news/cftc-lawsuit-minnesota-prediction-markets-ban" rel="noopener noreferrer nofollow">CFTC sues Minnesota, Governor Tim Walz over prediction markets ban</a>
<h2 id="polymarket-s-japan-community-on-x-already-exceeds-53-000-followers">Polymarket’s Japan community on X already exceeds 53,000 followers</h2>
Despite only seeking regulatory approval to operate in the country, Polymarket already has a Japan-focused X account with more than 53,000 followers,&nbsp;
Cointelegraph was not able to identify any other Polymarket regional community of comparable size on X at the time of writing.
<img alt="Polymarket seeks Japan entry despite gambling law hurdles: Report" height="588" src="https://s3-images.ctmedia.io/media/content/pasted-image-894.png" width="652">
Source: <a href="https://x.com/polymarketjp" rel="noopener noreferrer nofollow">Polymarket Japan</a>
Polymarket lists Japan among 35 restricted jurisdictions, including the United States, according to its country access policy. However, past reporting indicates users in <a href="https://cointelegraph.com/news/kalshi-hyperliquid-offer-prediction-markets-to-dutch-users-despite-polymarket-ban" rel="noopener noreferrer nofollow">restricted regions may still access</a> the platform using tools such as VPNs.
<h2 id="trading-volumes-fall-amid-regulatory-pressure-and-competition">Trading volumes fall amid regulatory pressure and competition</h2>
Polymarket’s <a href="https://cointelegraph.com/news/polymarket-volume-declines-first-time-august-2025" rel="noopener noreferrer nofollow">trading activity has come under pressure</a> amid rising regulatory scrutiny across multiple jurisdictions and growing competition from platforms such as Kalshi.
<a href="https://tokenterminal.com/explorer/projects/polymarket/metrics/trading-volume?interval=365d&amp;granularity=month" rel="noopener noreferrer nofollow">According</a> to Token Terminal data, Polymarket’s monthly notional trading volume fell nearly 15% in April, while Kalshi <a href="https://tokenterminal.com/explorer/projects/kalshi/metrics/notional-trading-volume?granularity=month" rel="noopener noreferrer nofollow">saw</a> an increase of about 13%.
<img alt="Polymarket seeks Japan entry despite gambling law hurdles: Report" height="415" src="https://s3-images.ctmedia.io/media/content/pasted-image-895.png" width="1115">
Polymarket’s monthly notional trading volume. Source: Token Terminal
Polymarket’s access is also increasingly restricted globally, with the platform blocked in roughly 34 countries and subject to “close-only” restrictions in four others, <a href="https://startpolymarket.com/countries/" rel="noopener noreferrer nofollow">according</a> to Start Polymarket data.
Related: <a href="https://cointelegraph.com/news/polymarket-uma-adapter-appears-exploited-520k-zachxbt" rel="noopener noreferrer nofollow">Polymarket team says user funds safe as exploit losses climb above $600K</a>
India is among the latest jurisdictions moving to <a href="https://www.bloomberg.com/news/articles/2026-05-18/kalshi-polymarket-defy-india-ban-on-online-betting-platforms" rel="noopener noreferrer nofollow">restrict</a> access to prediction markets, with authorities reportedly <a href="https://theprint.in/india/governance/polymarket-kalshi-india-prediction-markets/2937547/" rel="noopener noreferrer nofollow">preparing</a> blocking orders against rival platform Kalshi following earlier action against Polymarket.
Magazine: <a href="https://cointelegraph-magazine.com/anger-grows-polymarket-bets-iran-war/" rel="noopener noreferrer nofollow">Should users be allowed to bet on war and death in prediction markets?</a>

Polymarket seeks Japan entry despite gambling law hurdles: Report

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