TechFlow News, May 22: According to a Cointelegraph report, prediction market platform Polymarket is seeking entry into the Japanese market and aims to obtain government approval for prediction markets by 2030. The report states that Polymarket has appointed Mike Eidlin, Head of Japan at crypto firm Jupiter, to lead its local operations in Japan and advance related compliance efforts. Japan maintains strict regulation over online gambling, permitting only a limited number of government-authorized activities such as horse racing and public lotteries. Although Polymarket has not yet received authorization to operate in Japan, its Japanese regional X (formerly Twitter) account has already amassed over 53,000 followers. Meanwhile, under regulatory pressure and amid competition from rivals such as Kalshi, Polymarket’s monthly nominal trading volume declined nearly 15% month-on-month in April.
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