Polymarket is seeking approval from the Japanese government to enter the local market by 2030.

Odaily Planet Daily reports that prediction market platform Polymarket is seeking approval from the Japanese government and plans to operate its prediction market business in Japan by 2030. It has already appointed local representatives to lobby for approval. The report states that Polymarket considers Japan an important, yet underdeveloped market. Due to Japan's strict regulations on gambling, Polymarket currently blocks Japanese users from participating in prediction market transactions. Under Japanese criminal law, habitual gambling can be punished with up to three years in prison, while operating a gambling business can be punished with up to five years in prison. A Polymarket spokesperson stated that the company has observed "substantial natural interest" from users in Japan and other Asian regions and continues to evaluate opportunities to expand global market access in a compliant manner. (Bloomberg)