Polymarket · Bloomberg · Japan · The Block
Polymarket eyes Japan market entry, appoints regional representative: Bloomberg
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Polymarket has appointed a representative in Japan as it prepares to seek government approval to operate prediction markets in the country, .
Key facts
- Polymarket recorded $9 billion in monthly volume in April, down from $10.57 billion in March, 's data dashboard
- Meanwhile, rival Kalshi's April volume rose to $14.81 billion from $13 billion in March
- Friday, citing, that Polymarket views Japan as a major growth opportunity and is aiming to secure regulatory authorization to operate there by 2030
- Polymarket has also returned to the U.S. market after the acquisition of federally-regulated derivatives exchange QCEX, through which it operates Polymarket US
Summary
Friday, citing, that Polymarket views Japan as a major growth opportunity and is aiming to secure regulatory authorization to operate there by 2030. Mike Eidlin, who has reportedly been working as head of Japan at Jupiter, has been appointed to lead Polymarket's efforts in the country, Bloomberg said. Polymarket's official website currently lists Japan as one of the restricted jurisdictions where users are blocked from accessing the platform due to "regulatory requirements and compliance with international sanctions. Japan's Penal Code stipulates that a person who habitually gambles could face up to three years in prison, while operating a gambling business is punishable by between three months and five years of imprisonment.