capital markets
The Pachinko Playbook: How Japan’s Tech Startups are Gamifying the Future in a Gambling Gray Zone
Global prediction markets are currently witnessing an unprecedented explosion in liquidity, with industry frontrunners Polymarket and Kalshi reporting transaction volumes that have eclipsed $130 billion this year—a dramatic surge from $50 billion in the previous period. Conversely, Japan’s rigid anti-gambling framework, underpinned by a Penal Code that