Coinbase Faces Backlash Over Delayed Super Bowl Predictions Payouts

Coinbase is facing significant user backlash due to delayed or missing Bitcoin payouts for winners of its Super Bowl "Big Game Challenge" prediction market. Users on forums like Reddit reported issues ranging from not receiving funds after confirming wins to balances briefly appearing and then vanishing, leading some to label it a "rug pull." Coinbase support has stated that rewards are being held until all entries are settled, with payouts expected by February 23, 2026, according to official rules. This incident highlights growing pains for prediction markets, coinciding with infrastructure strains experienced by its backend partner, Kalshi, during the high-traffic Super Bowl event. Furthermore, the backlash occurs amid broader regulatory scrutiny, as state gaming regulators sue Coinbase, arguing its prediction markets constitute unlicensed sports wagering, adding complexity to the evolving landscape of event contracts.

(Source：BeInCrypto)