Bitbank warns domestic users of decentralized prediction markets may face account suspension
The Japanese crypto exchange said confirmed deposits to or withdrawals from services including Polymarket will trigger a full account-function suspension and warned such use from Japan could constitute gambling.
Bitbank said domestic use of decentralized prediction markets could lead to account suspension, sharpening its warning by saying confirmed deposits to or withdrawals from services including Polymarket will result in a full suspension of account functions. The Japanese crypto exchange said use of such services from Japan could constitute gambling, highlighting compliance risks around prediction-market platforms, which let users trade on event outcomes through blockchain-based systems rather than a centralized operator. The notice suggests exchanges are taking a stricter approach to customer activity linked to products that may raise legal or regulatory concerns in Japan.
- decentralized prediction markets: Platforms where users trade on the outcomes of future events through blockchain-based systems without a central operator.
- Polymarket: A prediction market service where users take positions on event outcomes.
- account-function suspension: A full restriction on an exchange account’s ability to use its services.