Prediction market platform Polymarket is seeking approval from the Japanese government to operate its business in Japan by 2030. According to Odaily, the company has appointed local representatives to engage in lobbying efforts.
Polymarket views Japan as a significant yet underdeveloped market. Due to Japan's strict gambling regulations, the platform currently restricts Japanese users from participating in prediction market transactions.
Under Japanese criminal law, habitual gambling can result in a maximum sentence of three years in prison, while operating a gambling business can lead to a five-year sentence. A Polymarket spokesperson noted that there is substantial natural interest from users in Japan and the broader Asian region, and the company is continuously evaluating opportunities to expand global market access in a compliant manner.