Key Takeaways:
Bitbank froze accounts tied to Polymarket on June 15, 2026, cutting off all login, trading, and withdrawal functions.Japan’s Penal Code Article 185 classifies crypto event-contract trading as gambling, with fines up to 500,000 yen.Polymarket targets Japan market authorization by 2030, but currently geoblocks Japanese IP addresses per its ToS.The suspension covers all account functions without exception.
Affected users would lose:
Login access Crypto asset deposits and withdrawals Japanese yen withdrawals All buying and selling of crypto assetsBitbank also stated it would not be responsible for damages resulting from account suspension measures.
Why Japan Treats Polymarket as GamblingThe National Police Agency has stated explicitly that accessing and participating in online gambling operated legally abroad remains a crime for Japanese residents. That guidance applies regardless of how a platform labels its product.
Polymarket Already Blocks Japan What Suspension Means in PracticeThat carve-out matters because automated detection based on counterparty wallet addresses can sometimes flag unrelated transactions.
Criminal Exposure Remains RealNo large-scale enforcement targeting Polymarket users specifically has been widely reported as of mid-2026, but the legal framework puts active users at ongoing risk.
The Broader PictureJapan’s gambling restrictions trace to Meiji-era law and remain tightly controlled. The government authorizes public horse racing, bicycle racing, and motorboat betting, plus government-operated lotteries. Online gambling outside those channels remains broadly prohibited.
Bitbank’s notice makes clear that Japanese users should treat any connection to Polymarket or similar platforms as an account-level risk, effective immediately.
