Polymarket is seeking approval in the Japanese market to expand globally.

On May 22, according to Bloomberg, Polymarket is seeking approval from the Japanese government to operate a prediction market by 2030 and has appointed local representatives for lobbying. Polymarket views Japan as a significant untapped business opportunity. Due to Japan's strict gambling restrictions, Polymarket currently blocks Japanese users from betting. Japanese penal law stipulates a maximum penalty of three years imprisonment for habitual gambling and five years for operating a gambling business. A Polymarket spokesperson stated that they have seen "substantial organic interest" from Japanese and Asian users and are continuously evaluating opportunities to expand global access in a compliant manner.