Japan’s cryptocurrency exchange Bitbank has issued a strict warning to users engaging with prediction market platforms like Polymarket, cautioning that such activity may lead to account suspensions. In a statement posted on June 15, 2026, Bitbank said it would freeze accounts if deposits or withdrawals were linked to prediction market services, citing Japanese gambling regulations. The exchange stressed that even overseas platforms are not exempt, and suspended users could lose access to trading, crypto and fiat withdrawals, and account login.
On the same day, blockchain analytics firm Lookonchain revealed that three crypto wallets—mintblade, GRIMDRIP, and endlessFate—collectively profited over $24.25 million from World Cup prediction markets. All 13 winning positions across 16 settled bets were then funneled to a single Binance deposit address, raising questions about possible coordinated trading or insider information. The accounts stopped betting after the profits and withdrew all funds, patterns that drew scrutiny from onchain analysts.
These events underscore the mounting pressure on prediction markets. Regulators worldwide are examining whether event-based trading constitutes gambling, while booming World Cup markets have seen over $5 billion in cumulative volume across Polymarket and Kalshi during the tournament’s early stages. Polymarket’s “World Cup Winner” contract alone reached $3 billion in volume. The combination of regulatory warnings and high-stakes trading highlights the growing pains of a sector that is attracting both millions in liquidity and intense oversight.
