- Polymarket has appointed a representative in Japan.
- The company reportedly views Japan as a significant growth opportunity.
- Polymarket is seeking government authorization to operate prediction markets in Japan by 2030.
- Japan is currently listed as a restricted jurisdiction on Polymarket’s website.
- Japanese law imposes penalties for habitual gambling and operating gambling businesses, while certain exceptions exist.
Polymarket Appoints Representative in Japan
Polymarket has appointed a representative in Japan as part of preparations to seek government approval to operate prediction markets in the country, according to a Bloomberg report. On Friday, citing sources familiar with the matter, that Polymarket considers Japan a major growth opportunity. The report stated that the company aims to secure regulatory authorization to operate in the country by 2030. The reported move comes despite Japan currently being listed among the jurisdictions where access to Polymarket is restricted.
On May 19, Japan’s Liberal Democratic Party endorsed a next-generation finance proposal centered on artificial intelligence and blockchain technology. The plan outlines the development of AI-driven economic systems, blockchain-based payment infrastructure, tokenized bank deposits, and yen-denominated stablecoins. The proposal reflects the party’s broader vision for modernizing Japan’s financial sector through digital technologies while supporting innovation in payments, settlement systems, and digital asset ecosystems.
Japan Remains a Restricted Jurisdiction on Polymarket
According to Polymarket’s official website, Japan is included on the platform’s list of restricted jurisdictions. Users located in those jurisdictions are blocked from accessing the platform due to “regulatory requirements and compliance with international sanctions.” The company has not yet obtained authorization to operate prediction markets in Japan.
Japanese Gambling Laws and Existing Exceptions
Japan’s Penal Code states that a person who habitually engages in gambling may face a prison sentence of up to three years. Operating a gambling business is punishable by imprisonment ranging from three months to five years under the law.
However, exceptions exist for public lotteries and government-authorized horse racing activities. The pachinko industry also continues to operate through arcade-style pinball machines and token exchange systems, an arrangement commonly described as a legal gray area.
Polymarket Expands Into Private-Market Forecasting
Recently, Polymarket announced a partnership with Nasdaq Private Market to introduce prediction markets focused on private-company valuations and IPO-related activity. The collaboration will allow users to trade contracts linked to the performance and valuation milestones of privately held companies before they reach public markets. The initiative expands Polymarket’s range of event-based forecasting products and brings private-market data into the prediction market ecosystem. The new offering is designed to provide market participants with additional insights into startup growth trends and potential public listings worldwide.
Polymarket UMA CTF Adapter Faces Suspected Exploit on Polygon: Leading prediction market platform Polymarket was linked to a suspected exploit involving its UMA CTF Adapter contract on the Polygon network. Blockchain investigator ZachXBT flagged the unusual on-chain activity, reporting repeated withdrawals of approximately 5,000 POL tokens every 30 seconds. The suspected incident is estimated to have drained more than $660,000 worth of POL tokens from the adapter contract. At the time of reporting, the exploit had not been officially confirmed by Polymarket, and the situation remained under investigation.
Regulatory Status in India
Polymarket has been blocked in India following increased enforcement measures targeting platforms classified by authorities as illegal online money gaming services. The restriction comes as regulators strengthen oversight of online betting and gaming-related activities. Access to the prediction market platform is currently unavailable to users in the country.
FAQs
1. Why has Polymarket appointed a representative in Japan?
Polymarket has appointed a representative in Japan as it prepares to seek government approval to operate prediction markets in the country.
2. When does Polymarket aim to obtain authorization in Japan?
Polymarket is targeting regulatory authorization to operate prediction markets in Japan by 2030.
3. Is Polymarket currently available to users in Japan?
No. Polymarket’s official website lists Japan as a restricted jurisdiction, and users in the country are blocked from accessing the platform due to regulatory requirements and compliance with international sanctions.
4. What does Japanese law say about gambling activities?
Japan’s Penal Code states that habitual gambling can result in up to three years of imprisonment, while operating a gambling business is punishable by between three months and five years in prison. Exceptions apply to public lotteries and government-authorized horse racing.
