Polymarket Taps Jupiter Exec to Lead Japan Push: Report

In brief

• Polymarket has reportedly appointed a Japan representative ahead of a regulatory approval bid.
• Mike Eidlin, formerly head of Japan at crypto firm Jupiter, will lead the effort, according to Bloomberg.
• The prediction market is aiming for authorization to operate in Japan by 2030.

Polymarket has appointed a representative in Japan as it prepares to seek government approval to operate prediction markets in the country, according to Bloomberg. Sources familiar with the matter told the outlet that the company is aiming to secure regulatory authorization by 2030.

Mike Eidlin, who serves as head of Japan at crypto firm Jupiter according to his LinkedIn profile, has been appointed to lead Polymarket's expansion in the country, Bloomberg reported.

Japan currently sits on Polymarket's list of restricted jurisdictions, where users are blocked from accessing the platform due to "regulatory requirements and compliance with international sanctions."

The legal backdrop is strict. 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.

A Polymarket spokesperson told Bloomberg that the firm has seen “meaningful organic interest from users” in Japan and Asia, adding that it is “always evaluating opportunities to expand access globally in compliant and locally appropriate ways.”

The platform's Japanese X account has already attracted more than 53,000 followers, and some 169 active Polymarket contracts are tied to Japanese events, including Bank of Japan rate decisions and political outcomes.

Polymarket's Japan push comes as it faces a mixed global picture, jockeying with rival prediction market platform Kalshi. Polymarket posted notional volumes of $9.967 billion in April, down from $11.275 billion in March, per DeFiLlama, while Kalshi saw rise from $13.211 billion in March to $14.647 billion in April. Kalshi’s valuation hit $22 billion after a in March, with Polymarket sitting at a $9 billion valuation following a from Intercontinental Exchange in October 2025.