Regulations
By James Thorp
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How the Pachinko Loophole Works. Pachinko has operated in Japan for decades under a similar structure.
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Polymarket's 2030 Target and the MGM Osaka Connection. Polymarket isn't waiting around passively. The company wants regulatory approval in Japan by 2030…
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What Miraima's Growth Actually Means. A million monthly users in seven months is fast. That's not a niche experiment — that's…
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Japan isn't opening its doors to Polymarket or Kalshi anytime soon. Strict gambling laws keep both platforms locked out — but a seven-month-old startup called Miraima just hit a…
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The trick is points. Not cash. Miraima lets users predict outcomes in sports, stocks, and politics, but nobody wagers actual money. You bet points. You win points.
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Pachinko has operated in Japan for decades under a similar structure. Players win physical tokens inside the parlor, then exchange those tokens for cash through a separate,…
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Miraima calls itself Japan's first prediction market focused on point-based activity. The platform shows event probabilities and trending topics.
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Legal experts say the distinction between point-wagering and cash-wagering is currently defensible. Key word: currently.
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Polymarket isn't waiting around passively. The company wants regulatory approval in Japan by 2030 and has appointed Mike Eidlin to lead its Japanese push.
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Related: Polymarkets $3.1 Million Hack Puts Refund Promise and SEC Probe on Collision Course
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Maybe. It's not guaranteed. Japan's path to integrated resorts has been slow and heavily contested, and prediction markets are a different regulatory animal than slot machines…
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Kalshi faces similar restrictions and continues operating in other markets, including India, while the Japan question stays open.
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Japan has a deep cultural affinity for gaming, point collection, and loyalty programs. PayPay and Rakuten aren't obscure redemption partners — they're embedded in daily consumer…
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But the model's long-term durability is genuinely unclear. Point-based platforms exist in a gray area, and gray areas have a way of getting defined — usually by regulators who…
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More context: Ripple CEO Brad Garlinghouse Slams Strategys Preferred-Stock Model as STRC Hits Record Low
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