The prize distribution problems experienced in the prediction competition called “Big Game Challenge” organized by the cryptocurrency exchange Coinbase within the scope of the Super Bowl, one of the most notable events of the year, led to intense reactions in the crypto community. Within the scope of the competition, participants who made correct predictions and achieved a certain number of successes were expected to receive a share of Bitcoin from the prize pool. However, many participants reported that their rewards were delayed or not credited at all.
User Complaints and Coinbase’s Statements
In user shares collected on Reddit and similar social platforms, it was reported that there were serious inconsistencies in the reflection of payments to the system. Some users stated that Bitcoin was not transferred to their accounts even though they guessed correctly. There were also people who explained that the reward temporarily appeared in the account balance and then disappeared or was only shown in USD.
On the other hand, the application’s giving different notifications about whether they won the competition or not confused the participants. Some users, who thought they had won, stated that they later learned that they had been eliminated through e-mails they received.
In the statements made by the Coinbase support team through various message channels, it was stated that the prizes won will be distributed after all prediction markets of the competition and applications made by mail are completely clarified. Accordingly, it was announced that Bitcoin rewards will be transferred to user accounts on February 23, 2026 at the latest.
“Verified winners will receive their prizes directly into their Coinbase accounts. The total prize pool of $1 million worth of Bitcoin will be shared equally among all winners. Prizes will be distributed no later than February 23, 2026.” Coinbase’s official statement came to the fore.
Infrastructure and Regulatory Challenges
The delays in Coinbase’s prediction contest also brought to the fore the deficiencies in the infrastructure and regulation of the increasing interest in crypto prediction markets. Kalshi, one of the technology providers behind the competition, confirmed that there were delays in deposits and transfers due to the high user traffic on Super Bowl day.
Kalshi’s co-founder, Luana Lopes Lara, emphasized that some transactions were delayed primarily due to workload, but user funds were safe.
The delays were not limited to Coinbase; Technical glitches due to intense demand were also observed on other platforms that offer similar prediction market services. This situation shows that despite the increasing interest in a short time, the platforms face various problems in technical scaling.
Impact of Regulation and Warnings from Inside the Industry
The rise of prediction markets faces not only technical but also legal and regulatory hurdles. Authorities such as the gaming control board in Nevada consider event-based prediction markets as unlicensed activities and are taking legal steps in this regard. These developments lead to continued uncertainties regarding the legal status of crypto-based event contracts.
Voices from the industry also attract attention. Vitalik Buterin, one of the founders of Ethereum, argued that prediction markets, which are often used only for speculative purposes, should gain broader functionality and reminded that the focus should be on risk management.
Recent problems and user reactions have once again revealed that crypto-based prediction markets need maturation at both technological and regulatory levels.
