COINBASE SUBPOENAED BY CFTC IN POLYMARKET INVESTIGATION, ALERTED USERS VIA EMAIL

Summary from the TLDR Crypto newsletter

Coinbase has received a subpoena from the CFTC seeking customer information related to Polymarket. The prediction market, which recorded $9 billion in 2024 trading volume despite blocking US users, has been under fire, with prior regulatory actions including a $1.4 million CFTC settlement and a recent FBI raid on the CEO's apartment. The platform reached peak activity in December with over 300,000 active traders. Concerns persist about U.S. users bypassing restrictions through VPNs.