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☑️Source says Polymarket customer data sought by CFTC subpoena to Coinbase⬅️
The U.S. Commodity Futures Trading Commission is reportedly seeking information about customer interactions with prediction market site Polymarket.
According to a person familiar with the situation, Coinbase Inc. (COIN) has warned customers that the U.S. regulator is seeking information about interactions with prediction market site Polymarket, and Coinbase has sent messages to customers saying the exchange may be forced to share that data.
Copies of emails shared with some customers have been circulating on social media, and the person said the warnings about the CFTC’s requests are accurate. The U.S. derivatives regulator has been locked in a lengthy legal battle with prediction market firms, and the latest move comes just days before the agency’s leadership switches from Democrat to Republican when President-elect Donald Trump takes office. “When we receive requests for information from the government, each request is carefully reviewed by a team of trained experts using established procedures to determine its legal sufficiency,” a Coinbase spokesperson said in an emailed statement, though the company declined to confirm receipt of the specific subpoena.
