Prediction Markets Emerge in Japan, With Shopping Vouchers
View original at finance.yahoo.comPrediction Markets Emerge in Japan, With Shopping Vouchers (Bloomberg) -- Even as prediction platforms like Polymarket and Kalshi surged into the global mainstream in recent years, Japan — like its Asian neighbors China and South Korea — remained a no-go zone due to strict anti-gambling regulations…
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Miraima has amassed close to 1 million monthly users since its debut in November, helped by interest in recent sporting events like the World Cup
60% confidenceJapan, like China and South Korea, remained a no-go zone for prediction platforms due to strict anti-gambling regulations, but new startups are finding ways to skirt the rules
60% confidenceJapan's pachinko industry is worth approximately $100 billion and employs an indirect payout system that prediction market apps emulate as a legal workaround
60% confidencePrediction market apps are addictive; he has earned more than 10,000 yen a month in points on Miraima and similar apps
60% confidenceHe compulsively opens the prediction apps whenever he has a spare moment or when there is news that might move the odds
60% confidenceMiraima is seven months old and is Japan's largest prediction market platform, spearheaded by Gen Z entrepreneurs
60% confidenceJapan's nascent prediction market platforms are closely modeled on Polymarket and Kalshi in that they enable users to bet on outcomes of live events, but unlike those platforms no money changes hands — the entire system is built on non-monetary virtual tokens
60% confidence