Japan's Bitbank Warns of Account Suspensions Over Polymarket Transfers

Key Facts

In a move reflecting heightened regulatory pressure on decentralized prediction platforms, the Japanese crypto exchange Bitbank warned its users of potential account suspensions if transactions linked to Polymarket are detected. According to reports, these strict restrictions aim to avoid potential violations of Japan's gambling laws, as the exchange seeks to ensure full compliance with local regulatory standards. The measure targets all incoming and outgoing transfers involving the popular prediction market.

This crackdown comes as Polymarket experiences record growth, with monthly trading volumes surpassing $1 billion in May 2024 according to Dune Analytics data, largely driven by U.S. election betting. Similar platforms face increasing global scrutiny; in the United States, Polymarket previously agreed to pay a $1.4 million fine to settle CFTC charges for offering unregistered binary options, according to Reuters reports.

Traders should monitor the regulatory landscape in Japan, especially as crypto market volatility continues to impact local liquidity. Looking at the economic calendar, investors are weighing the U.S. Inflation (CPI) data released on June 10, 2026, which hit 4.2% YoY, as it directly influences risk appetite for digital assets. Bitbank remains under observation to see if other Japanese exchanges will adopt similar restrictive policies.