Polymarket hires Jupiter exec, targets Japan approval by 2030
Polymarket has appointed a former Jupiter executive as its Japan representative and is preparing to lobby Japan's Financial Services Agency for authorization to operate prediction markets in the country by 2030. The crypto-native platform has not previously held regulatory approval outside its current markets, and Japan's strict gambling laws and cautious stance on novel financial products make the timeline uncertain. The appointment signals a broader global expansion push beyond Polymarket's core US political betting markets, which surged during the 2024 election cycle but have since seen falling trading volumes. Asia's third-largest economy represents a strategic target for event-contract distribution.
Polymarket must now manage simultaneous regulatory defense in South Korea and India while pursuing Japan's slow FSA timeline. Any adverse ruling in Seoul or Delhi would arm Japanese regulators with a ready enforcement template, collapsing the 2030 target before lobbying begins in earnest.
Becomes Polymarket's third parallel regulatory push in Asia this year, alongside South Korean gambling-probe defense and Indian IT Act geoblock compliance, as the platform pivots from US election-volume peaks toward durable international licensing.