Coinbase Subpoenaed by CFTC Over Polymarket Customer Data

The U.S. regulator seeks information on user interactions with the blockchain-based prediction market as part of an ongoing investigation.

The Commodity Futures Trading Commission (CFTC) has issued a subpoena to Coinbase, requesting customer data related to the prediction platform Polymarket.
Coinbase has informed some users via email that it may be required to share their account information with the CFTC depending on legal proceedings.
Polymarket, a blockchain-based prediction market, has faced regulatory scrutiny in the U.S. and abroad, including a $1.4 million fine from the CFTC in 2022 for failing to register its services.
The subpoena is part of the CFTC's broader efforts to regulate prediction markets, following legal disputes with firms like Polymarket and Kalshi over election-related contracts.
Coinbase stated that it carefully reviews government data requests and may object to or narrow overly broad or vague demands when possible.