Japan’s prediction market sector is expanding through domestic startups using the same legal framework that sustains the country’s $100 billion pachinko industry. While global platforms like Polymarket and Kalshi remain blocked under strict gambling laws, apps such as Miraima are gaining traction by letting users wager points instead of cash on sports, stocks, and political events.
Miraima has attracted one million monthly users in just seven months by employing the pachinko workaround digitally. Users bet with points and redeem winnings separately through third-party loyalty programs like PayPay and Rakuten, mirroring how pachinko parlours award tokens exchanged for cash at separate businesses. Founder Keita Adachi told Bloomberg the platform capitalizes on Japan’s gaming and point-collecting culture since real-money gambling remains prohibited.
International operators are pursuing different strategies. Polymarket has appointed former Jupiter Japan head Mike Eidlin to spearhead local efforts, targeting regulatory approval by 2030 when MGM Osaka, Japan’s first integrated casino resort, opens.
FXnCO Insight
Watch for regulatory scrutiny as these point-based platforms scale, as authorities may tighten enforcement if they’re perceived as circumventing gambling restrictions.
Source: Finance Magnates