Coinbase Subpoenaed Over Polymarket Involvement, Federal Agency Seeks Customer Information

The Commodity Futures Trading Commission has issued a subpoena to cryptocurrency exchange Coinbase (NASDAQ:COIN) regarding its association with the prediction platform Polymarket, according to a Thursday report.

What Happened: The CFTC is seeking “general customer information” related to Polymarket, a Polygon (CRYPTO: POL)-based forecasting platform that is not legally permitted to offer its services in the U.S., Decrypt reported, citing a source familiar with the matter.

Additionally, Eric Conner, an angel investor and well-known Ethereum (CRYPTO: ETH) advocate, shared an email from Coinbase on X alerting users about the CFTC’s request. The email suggested that Coinbase “may be required to send information” to the CFTC, depending on legal proceedings that could occur within the next week.