Polymarket has taken its first formal step toward Japan by appointing a local representative, according to Bloomberg reports. The global prediction market platform has hired a Japan-based lead to represent the company before regulators and policymakers.
People familiar with the plan told Bloomberg that Polymarket wants to lobby for legal authorization of prediction markets in Japan. They say the company is targeting government approval by 2030 and views Japan as a “large untapped business opportunity.”
Inside the Polymarket Japan Strategy
According to reports, Mike Eidlin, who serves as Japan head for the Solana-based DeFi project Jupiter, will lead Polymarket’s Japan business. Sources say his role includes coordinating with local lawyers, industry groups, and officials as the project builds a case for regulated prediction markets.
Polymarket already restricts users in some countries because of local rules, and Japan’s strict gambling laws still treat most event-based wagering as illegal. For now, Japan-based users can see odds on global platforms, but legal experts say active trading in event contracts from Japan remains risky under current law.
Japan’s Tough Rules on Prediction Markets
Most forms of betting are illegal under Japan’s Penal Code and gambling framework, with some exceptions such as racing, lotteries, and pachinko, commentators observe. When considering new wagering methods, regulators are cautious and focus on crime prevention, addiction, and financial harm.
And this is why prediction markets like Polymarket are in a grey area and are generally considered online gambling rather than just data. Analysts say any shift would likely require a custom-made legal category that differentiates “prediction data” from traditional betting.
Moreover, Polymarket plans to work with Japanese institutions and companies over several years to build a scalable framework. One industry advocate recently wrote that Japan is entering a phase where “prediction data could become a valuable new layer of financial and media infrastructure.”
For now, the company’s move is still in its early stages and relies on behind-the-scenes lobbying rather than public campaigns. However, if Polymarket secures some form of approval by its 2030 goal, Japan could become one of the first major markets in Asia to allow on-chain prediction markets under a clear legal regime.
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