While prediction market platforms are under legal scrutiny in the US, many Coinbase users are claiming that the app is pushing them to gamble.
Update (March 27 at 8:32 pm in UTC): This article has been updated to include a statement from Coinbase CEO Brian Armstrong.
Negative reactions to cryptocurrency exchange Coinbase using its notifications to push bets on event contracts amid the March Madness basketball tournament range from “annoying” to “absurd.”
In January, Coinbase rolled out prediction market bets for US-based users as part of a partnership with Kalshi. However, for some users, the last two months have been seen as an opportunity for the exchange to get people “hooked on sports gambling” using an app that many had devoted to crypto trading.
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