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Coinbase Subpoenaed by CFTC in Polymarket Investigation

Twitter icon  •  Published 3 hours ago on January 10, 2025  •  Nikolas Sargeant

Coinbase notifies users of CFTC subpoena in ongoing Polymarket investigation, requesting potential customer data.

Coinbase Subpoenaed by CFTC in Polymarket Investigation

Coinbase has received a subpoena from the U.S. Commodity Futures Trading Commission (CFTC) in relation to its investigation into Polymarket, a blockchain-based prediction market platform. The exchange notified affected users via email, alerting them that customer data, including account details, might be shared with authorities. 

While Coinbase stated that action is not required from users, it confirmed that, in some cases, it may need to comply with legal requests for customer information. This follows previous regulatory scrutiny of Polymarket, which has faced enforcement actions from the CFTC.

Regulatory Actions from CFTC

U.S. Commodity Futures Trading Commission has been engaged in several regulatory battles with major crypto currency players. Earlier Gemini agreed to pay $5 million after actions from the CFTC. A much smaller fee as paid out by Uniswap as well.

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Nikolas Sargeant

Nik is a content and public relations specialist with an ever-growing interest in Crypto. He has been published on several leading Crypto and blockchain based news sites. He is currently based in Spain, but hails from the Pacific Northwest in the US.