Hassan Maishera
TL;DR
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Polymarket is preparing to seek government approval in Japan and has appointed a local representative.
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The company intends to gain approval and start operations by 2030.
Japan Becomes Key Expansion Target for Polymarket
Polymarket has appointed a representative in Japan as part of its long-term plan to secure government approval to operate prediction markets in the country, according to a Bloomberg report.
Citing sources familiar with the matter, Bloomberg reported that the company is targeting regulatory authorization in Japan by 2030, viewing the market as a significant growth opportunity in Asia.
Mike Eidlin, who has reportedly served as head of Japan at Jupiter, has been appointed to lead Polymarket’s expansion efforts in the country.
Polymarket currently lists Japan as a restricted jurisdiction on its official platform, blocking users due to “regulatory requirements and compliance with international sanctions.”
The move highlights the regulatory hurdles the company must overcome before officially entering the Japanese market.
Competition Intensifies in Prediction Markets
Polymarket’s expansion plans come amid shifting market dynamics and increasing competition.
The platform recorded $9 billion in monthly trading volume in April, down from $10.57 billion in March—marking its first monthly decline since August of last year.
By contrast, rival platform Kalshi saw its April volume rise to $14.81 billion from $13 billion in March.
Polymarket has also re-entered the U.S. market following its acquisition of the federally regulated derivatives exchange QCEX, which operates under the entity Polymarket US.
The U.S. operation currently functions in a limited capacity, with reports suggesting ongoing discussions with the Commodity Futures Trading Commission (CFTC) to restore full exchange operations.
The company recently launched private company prediction markets with support from Nasdaq Private Market, giving investors exposure to startups and unicorns valued at over $5 trillion.
