CFTC Reportedly Subpoenas Customer Info from Coinbase Related to Polymarket Probe

The Commodity Futures Buying and selling Fee (CFTC) has reportedly issued a subpoena to US cryptocurrency alternate Coinbase as a part of an ongoing investigation into decentralized prediction market platform Polymarket.

In a put up on social media platform

The e-mail states that the derivatives market regulator is in search of normal buyer data from Coinbase in reference to its investigation into Polymarket, a crypto-based playing platform that permits customers to guess on the result of future occasions by buying and selling shares in USDC.

“Biden’s CFTC subpoenas Coinbase buyer data of their case towards Polymarket.”

Polymarket’s reputation soared throughout the US presidential elections and customers appropriately predicted Donald Trump’s victory.

In November, the Federal Bureau of Investigation raided the house of the platform’s CEO, Shayne Coplan, amid allegations that Polymarket violated a settlement settlement with the CFTC to dam transactions by U.S.-based customers.

However Coplan says the motion is politically motivated.

“Incumbents must do some self-reflection and acknowledge {that a} extra pro-business, pro-startup strategy may have modified their fortunes this election.”

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