Gumi Launches Japan Prediction Market With Points-to-Cash Rewards, Excluding Wars and Elections
Updated
Updated · Kyodo News Plus · Jun 22
Gumi Launches Japan Prediction Market With Points-to-Cash Rewards, Excluding Wars and Elections
1 articles · Updated · Kyodo News Plus · Jun 22
Summary
Tokyo-based Gumi this month opened Yosoku Hiroba, a prediction site where users spend login points on forecasts and convert correct picks into "gold" exchangeable for electronic money.
The company said the reward design was built to comply with Japan's gambling laws, while also testing whether forecast data can be used for business purposes such as demand signals and advertising.
Gumi writes its own questions and bars wars, crimes and elections, even as another Japanese service has asked whether Japan and China will clash militarily by 2027.
U.S. prediction markets are often seen as producing well-researched forecasts, but overseas platforms have drawn criticism over bets on wars; a Sophia University professor said Japan may need cautious operation and possible regulation.