Coinbase has received a subpoena from the US Commodity Futures Trading Commission (CFTC). The regulator is requesting information about users from the trading platform as part of an investigation related to Polymarket. Information about this was sent to the exchange's clients by email.$1000SATS $STMX $IQ

The CFTC became interested in Polymarket due to the platform's activity ahead of the US elections, which could violate current legislation. This is not the first time the project has come under the scrutiny of regulators. In 2022, the platform's team already paid a fine of $1.4 million and agreed to close illegal binary options markets, as well as restrict access for American users. Despite this, in 2024, the platform’s trading volume exceeded $9 billion, and the number of active traders reached 314,500.

The Coinbase team said that if the authorities’ requests are too broad, it will seek to narrow them or reject them entirely.

Polymarket has attracted the attention of not only the CFTC, but also the Department of Justice, as well as regulators in other countries, such as France. The investigations concern compliance with the law and user access via VPN.#NFPCryptoImpact #DOJBTCAuction #ShareYourTrade #USJoblessClaimsDrop #BinanceAlphaAlert