Is Polymarket legal in Japan?
Polymarket is currently accessible from Japan. The platform is not on the list of 33 blocked countries.
However, Japan has strict financial regulations. The Financial Services Agency (FSA) regulates cryptocurrency exchanges and requires them to register. Polymarket itself is not registered with the FSA, which means it operates in a regulatory gray area for Japanese users.
How Japanese regulations apply
Japan's gambling laws are among the strictest in the world. Most forms of gambling are prohibited under the Criminal Code, with exceptions for government-run lotteries, horse racing, and certain other public sports. Online gambling on offshore platforms is technically illegal.
Prediction markets are not specifically addressed in Japanese law. Whether Polymarket constitutes gambling under Japanese law depends on legal interpretation. Japanese users should be aware of this ambiguity.
Cryptocurrency is legal and regulated in Japan. The FSA oversees registered crypto exchanges, and crypto gains are taxable as miscellaneous income.
How to access from Japan
- Go to Polymarket and create your account
- Deposit via credit card or transfer USDC from a Japanese exchange like bitFlyer or Coincheck
- Browse markets and start trading
For a full walkthrough, read how to create a Polymarket account.
Tax implications for Japanese users
Crypto gains in Japan are classified as miscellaneous income and taxed at your marginal income tax rate, which can be as high as 55% (including local taxes). This is one of the highest crypto tax rates globally. Keep detailed records of all trades.
