Coinbase, a U.S.-based cryptocurrency exchange, has received a subpoena from the Commodity Futures Trading Commission (CFTC) concerning the prediction market platform Polymarket. Users were notified in a statement on Jan. 8, indicating that the subpoena seeks general customer information, including account details. Coinbase advised that while no action is needed from users, it may be obligated to provide the requested user data unless formally served with a legal motion to quash by Jan. 15, 2025. This subpoena comes amidst scrutiny on Polymarket, particularly after FBI raids related to its operations. Concerns over compliance with gambling regulations have also been raised following their inaccessibility for U.S. residents since a 2022 settlement with the CFTC. Some users reportedly bypassed these restrictions using VPN services. Coinbase and Polymarket have yet to respond to requests for comments regarding the situation.

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