Coinbase has been subpoenaed by the United States Commodity Futures Trading Commission (CFTC) concerning the federal agency’s probe of Polymarket, a cryptocurrency-based peer-to-peer prediction exchange. Firefighters monitor the Palisades wildfires in Mandeville Canyon on Saturday, Jan. 11, 2025. The public has scolded Polymarket for allowing betting on the outcome of the fires. (Image: AP) The CFTC governs derivative markets, including futures, swaps, and options. The independent agency’s scope has expanded in recent years to include controversial betting exchanges like Polymarket, which last fall offered contracts on the outcome of the 2024 presidential election. Outgoing CFTC Chair Rostin Behnam opposed betting on the November election. The CFTC is amid an active investigation into the operations of Polymarket to determine if the wagering exchange has permitted US-based customers. Coinbase, an online cryptocurrency exchange that allows users to buy, sell, trade, and store crypto, has been subpoenaed in the Polymarket inquiry. The company informed certain users about the federal order to disclose information… Read More
Category: Regulation, CFTC, Coinbase, Commodity Futures Trading Commission, election betting, Polymarket, Singapore, wildfires
Source: Casino.org
