# CFTC Subpoenas Coinbase Over Polymarket Customer Data

*Author: Kazu Umemoto*
*Published: Jan 9, 2025*
*Source: https://www.bankless.com/read/cftc-subpoenas-coinbase-over-polymarket-customer-data*

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The Commodity Futures Trading Commission has subpoenaed Coinbase for customer information linked to Polymarket activity.

## What’s the Scoop?
- **Reason for Subpoena**: The subpoena targets user data related to Polymarket transactions conducted through Coinbase.
- **Polymarket Ban**: Polymarket, which allows users to bet on future events, has been banned for U.S. customers since early 2022.
- **Past Experience:** The CFTC has gone after Polymarket in the past, fining them over $1.4M in 2022 for not registering its services with regulators

## Bankless Take:
While Coinbase has complied with the CFTC, this move has left many people in the crypto space disappointed. The CFTC's war on predictions markets has been a long, losing battle, but they continue to pursue Polymarket.
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