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.
Coinbase is facing user backlash after sending notifications promoting event-contract bets during the March Madness basketball tournament.
In January, Coinbase rolled out prediction market bets for US-based users as part of a partnership with Kalshi. Some users say the rollout has turned into an effort to get people “hooked on sports gambling” through an app they previously used for crypto trading.
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