CFTC Issues Subpoena to Coinbase Over Polymarket Investigation

The U.S. Commodity Futures Trading Commission (CFTC) has subpoenaed Coinbase, seeking information related to Polymarket, a crypto-based prediction market platform. This move comes amid ongoing regulatory scrutiny of Polymarket, which has been restricted for U.S. residents since 2022 after settling with the CFTC for $1.4 million. Coinbase has notified its users, assuring them no immediate action is needed unless required by law by January 15, 2025. However, the possibility of sharing user data with the CFTC has raised concerns about privacy and regulatory implications for its customers.