Coinbase is dealing with rising criticism from customers after many individuals in its Tremendous Bowl “Large Sport Problem” prediction market contest reported that their funds had been delayed or not paid although they gained a share of the marketed Bitcoin prize pool.
Group complaints and technical points spotlight the rising pains of a prediction market that has soared in reputation whereas dealing with regulatory, operational and infrastructure challenges.
Coinbase cost points spotlight development pains in prediction markets
On Reddit and different boards, customers stated they skilled confusion and frustration with the cost course of. Some customers reportedly precisely predicted the end result of the massive recreation, however “haven’t but been paid.”
That's proper, I didn't get the Tremendous Bowl Bitcoin pot cash both as a result of I gained 5 predictions $coin @coinbase @CoinbaseAssets
— Mitch🇺🇸🎙️ (@MitchOnX) February 12, 2026
Others have reported winnings briefly showing of their account balances then disappearing with out clarification, or funds mirrored in USD with out being transferable or accessible.
Amid these complaints, some are calling the scenario a “lag pull,” claiming that the Coinbase app initially confirmed a win with 5 right picks, the qualifying commonplace, solely to declare in a subsequent e mail that they’d not gained.
“Based on the Coinbase app, I gained the massive recreation prediction with 5 right predictions and wager $5 on every prediction. I used to be advised to attend for cost. Nevertheless, I obtained an e mail from Coinbase saying I didn’t win. Does anybody really feel this was a hook or a rip-off ultimately? They stated.”
Nevertheless, help responses seen in some threads point out that rewards will probably be withheld till all prediction markets and mail-in entries are settled, per the competition's official guidelines.
Coinbase beforehand said that winners will obtain their Bitcoin rewards instantly into their accounts by February 23, 2026.
Nevertheless, the shortage of transparency and account migration is irritating customers making an attempt to test their cost standing.
“We utterly perceive how necessary that is to you. Verified winners will obtain their prize cash instantly into their Coinbase account. The prize quantity will probably be a share of $1,000,000 in Bitcoin, divided equally amongst all winners. Prizes will probably be paid out no later than February 23, 2026,” Coinbase defined.
Infrastructure strains, regulatory hurdles, and rising dangers in crypto prediction markets
The timing of those complaints coincides with broader tensions in cryptocurrency-related prediction markets. Kalshi, a accomplice platform that gives the backend for Coinbase's occasion contracts, skilled delays in deposits and transactions in the course of the Tremendous Bowl as a result of overwhelming site visitors.
One person lamented, “It appears about proper that Kalsi is investing in advertisements only for the app and gained't allow you to deposit cash on Tremendous Bowl day.”
Carsi co-founder Luana López Lara acknowledged the financial slowdown, however assured customers that their funds had been “secure and on the best way.”
“As a result of excessive quantity of site visitors and deposits, some deposits are delayed,” Carsi co-founder Luana López Lara wrote to X on Sunday evening. “Your cash is secure and on its method, it simply takes longer to land.” https://t.co/8sZcCzXkdq
— Enterprise Insider (@BusinessInsider) February 9, 2026
These operational stretches spotlight how infrastructure designed for day-to-day transactions can battle with spikes that accompany massive occasions.
Related technological pressures had been noticed throughout the business in prediction markets in the course of the championship. This implies a systemic scalability problem for platforms that present high-demand occasion contracts.
Coinbase's backlash comes amid a broader regulatory and authorized battleground. State gaming regulators, together with the Nevada Gaming Management Board, sued Coinbase to dam prediction markets. They declare this constitutes unlicensed sports activities betting.
These authorized actions improve uncertainty relating to the regulatory standing of occasion contracts, complicating deployment and person expertise.
In the meantime, critics throughout the crypto group level out that prediction markets have to mature past short-term speculative bets.
Voices like Ethereum co-founder Vitalik Buterin have warned that over-reliance on speculative contracts may lead to merchandise missing deeper utility, urging a give attention to hedging and danger administration purposes.
These days, I've began to change into involved concerning the present state of prediction markets. They’ve achieved a sure stage of success. The market quantity is giant sufficient to make significant bets and might even earn you a full-time job as a dealer, typically proving helpful as a dealer.
— vitalik.eth (@VitalikButerin) February 14, 2026
The present Coinbase backlash highlights the operational and communication gaps that accompany the product's speedy growth.
Coinbase faces backlash over delayed funds for Tremendous Bowl predictions This text initially appeared on BeInCrypto.
