According to a source, Coinbase has informed its customers that the US Commodity Futures Trading Commission is requesting information about their interactions with Polymarket, a prediction market site. The exchange has sent notifications to affected customers, stating that it may be required to share their data.
Copies of these emails have been shared on social media, confirming the CFTC's request. This move is part of the regulator's ongoing battle with prediction market firms, which has been marked by a series of legal disputes. The CFTC has been seeking to assert its authority over these platforms, and this latest development comes as the agency's leadership is set to change with the incoming administration.
A Coinbase spokesperson stated that the company carefully reviews all requests for information from government agencies and may seek to narrow or object to requests that are overly broad or vague. The CFTC has previously clashed with prediction market firms, including Kalshi, and is currently appealing a federal court ruling that allowed the company to list election contracts. The regulator's efforts to gather customer information from Polymarket have not been publicly confirmed, and neither the CFTC nor Polymarket has commented on the matter.