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Polymarket aims for prediction market approval in Japan by 2030
Key takeaways
- Mike Eidlin, head of Japan at cryptocurrency exchange Jupiter, is leading Polymarket's efforts, according to the report.
- Read More: India cracks down on prediction markets: Polymarket goes dark, Kalshi could be next
- Japan maintains some of the world’s strictest gambling laws, with most forms of betting prohibited under the country’s criminal code.
The decentralized prediction market platform has appointed a representative in the country and is aiming for government approval by 2030, Bloomberg report said, citing people familiar with the matter who asked not to be named.
Mike Eidlin, head of Japan at cryptocurrency exchange Jupiter, is leading Polymarket's efforts, according to the report.
Polymarket, which allows users to bet on outcomes of real-world events through blockchain-based futures contracts, has been under pressure to expand its reach into other major markets as legal scrutiny has hampered its activity in the U.S.
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