Yes they do. They are boxed in neatly in the current laws and unless you are discussing specifics about doing a crime in the past or future, they will not get that subpoena and thus they are in a catch 22.
Now if you are actively torrenting, chances are you could run into one of those fake peers that will grab your IP and they can start suing you. But other than that they would need real good evidence to subpoena.