[Polymarket Seeks Approval in the Japanese Market to Expand Globally] According to Bloomberg, Polymarket is seeking approval from the Japanese government with plans to operate a prediction market by 2030 and has appointed local representatives to lobby for this effort. Polymarket views Japan as a significant untapped business opportunity. Due to Japan's strict gambling restrictions, Polymarket currently blocks Japanese users from placing bets. Under Japan's Penal Code, habitual gambling can result in a maximum prison sentence of three years, while operating a gambling business can lead to a maximum sentence of five years. A Polymarket spokesperson stated that they have observed "substantial organic interest" from Japanese and Asian users and are continuously evaluating opportunities to expand global access in a compliant manner.