[Digital Today reporter Chi-gyu Hwang (황치규)] Japan's major cryptocurrency exchange Bitbank has warned it could suspend user accounts that conduct transactions linked to prediction market platforms such as Polymarket, Cointelegraph reported on June 15 (local time).

According to the report, Bitbank said in a notice it may restrict deposit and withdrawal transaction accounts connected to prediction market services. If an account is suspended, access to all services becomes impossible, including login, deposits and withdrawals, and cryptocurrency trading. Bitbank added, "We do not take responsibility for losses incurred by customers due to account suspensions."

Bitbank said prediction market platforms that bet on future events such as election outcomes and sports results could violate Japan's gambling law if used for monetary gain. It did not cite specific regulatory measures or government instructions.

The warning came shortly after Polymarket said it is considering entering the Japanese market. Japanese authorities have not yet issued official guidelines on prediction markets, but Bitbank's warning shows some cryptocurrency firms are responding pre-emptively to services that could be classified as gambling, Cointelegraph said.