Subscribe to Bankless or sign in
The Commodity Futures Trading Commission has subpoenaed 
Coinbase for customer information linked to 
Polymarket activity.
What’s the Scoop?
- Reason for Subpoena: The subpoena targets user data related to Polymarket transactions conducted through Coinbase.
- Polymarket Ban: Polymarket, which allows users to bet on future events, has been banned for U.S. customers since early 2022.
- Past Experience: The CFTC has gone after Polymarket in the past, fining them over $1.4M in 2022 for not registering its services with regulators
Bankless Take:
While Coinbase has complied with the CFTC, this move has left many people in the crypto space disappointed. The CFTC's war on predictions markets has been a long, losing battle, but they continue to pursue Polymarket.
1
0
