Japan’s Bitbank cracks down on Polymarket-linked transfers
Bitbank warned that deposits or withdrawals linked to prediction market platforms such as Polymarket could trigger account suspensions because such activity may conflict with Japan’s gambling laws. The exchange said suspended users could lose access to logins, deposits, withdrawals, and crypto trading, and it disclaimed liability for any resulting damages. Bitbank urged caution when using external services and said prediction markets that let users bet on election results, sports, or other outcomes may be treated as gambling if used for financial gain. The notice did not cite a specific government directive, but it reflects growing uncertainty in Japan as Polymarket considers expansion there. Polymarket already lists Japan as a restricted jurisdiction, and broader scrutiny of prediction markets is increasing worldwide.
