Coinbase is facing growing criticism from users after many participants in its Super Bowl “Big Game Challenge” prediction market contest reported that their payments were delayed or not paid even though they won a share of the advertised Bitcoin prize pool.
Community complaints and technical issues highlight the growing pains of a prediction market that has soared in popularity while facing regulatory, operational and infrastructure challenges.
Coinbase payment issues highlight growth pains in prediction markets
On Reddit and other forums, users said they experienced confusion and frustration with the payment process. Some users reportedly accurately predicted the outcome of the big game, but “have not yet been paid.”
That’s right, I didn’t get the Super Bowl Bitcoin pot money either because I won 5 predictions $coin @coinbase @CoinbaseAssets
— Mitch🇺🇸🎙️ (@MitchOnX) February 12, 2026
Others have reported winnings briefly appearing in their account balances then disappearing without explanation, or payments reflected in USD without being transferable or accessible.
Amid these complaints, some are calling the situation a “lag pull,” claiming that the Coinbase app initially confirmed a win with five correct picks, the qualifying standard, only to declare in a subsequent email that they had not won.
“According to the Coinbase app, I won the big game prediction with 5 correct predictions and bet $5 on each prediction. I was told to wait for payment. However, I received an email from Coinbase saying I did not win. Does anyone feel this was a hook or a scam in some way? They said.”
However, support responses seen in some threads indicate that rewards will be withheld until all prediction markets and mail-in entries are settled, per the contest’s official rules.
Coinbase previously stated that winners will receive their Bitcoin rewards directly into their accounts by February 23, 2026.
However, the lack of transparency and account migration is frustrating users trying to check their payment status.
“We completely understand how important this is to you. Verified winners will receive their prize money directly into their Coinbase account. The prize amount will be a share of $1,000,000 in Bitcoin, divided equally among all winners. Prizes will be paid out no later than February 23, 2026,” Coinbase explained.
Infrastructure strains, regulatory hurdles, and rising risks in crypto prediction markets
The timing of these complaints coincides with broader tensions in cryptocurrency-related prediction markets. Kalshi, a partner platform that provides the backend for Coinbase’s event contracts, experienced delays in deposits and transactions during the Super Bowl due to overwhelming traffic.
One user lamented, “It seems about right that Kalsi is investing in ads just for the app and won’t let you deposit money on Super Bowl day.”
Carsi co-founder Luana López Lara acknowledged the economic slowdown, but assured users that their funds were “safe and on the way.”
“Due to the high volume of traffic and deposits, some deposits are delayed,” Carsi co-founder Luana López Lara wrote to X on Sunday night. “Your money is safe and on its way, it just takes longer to land.” https://t.co/8sZcCzXkdq
— Business Insider (@BusinessInsider) February 9, 2026
These operational stretches highlight how infrastructure designed for day-to-day transactions can struggle with spikes that accompany big events.
Similar technological pressures were observed across the industry in prediction markets during the championship. This suggests a systemic scalability challenge for platforms that provide high-demand event contracts.
Coinbase’s backlash comes amid a broader regulatory and legal battleground. State gaming regulators, including the Nevada Gaming Control Board, sued Coinbase to block prediction markets. They claim this constitutes unlicensed sports betting.
These legal actions increase uncertainty regarding the regulatory status of event contracts, complicating deployment and user experience.
Meanwhile, critics within the crypto community point out that prediction markets need to mature beyond short-term speculative bets.
Voices like Ethereum co-founder Vitalik Buterin have warned that over-reliance on speculative contracts could result in products lacking deeper utility, urging a focus on hedging and risk management applications.
Lately, I’ve started to become concerned about the current state of prediction markets. They have achieved a certain level of success. The market volume is large enough to make meaningful bets and can even earn you a full-time job as a trader, often proving useful as a trader.
— vitalik.eth (@VitalikButerin) February 14, 2026
The current Coinbase backlash highlights the operational and communication gaps that accompany the product’s rapid expansion.
Coinbase faces backlash over delayed payments for Super Bowl predictions This article originally appeared on BeInCrypto.
