Yes, you can restrict use of the coupon.
You can apply restriction on the selected categories and sub categories.
You can apply restriction as Minimum purchase amount. For example, your coupon will be applied only after order amount crosses say Rs. 1000.
Also, you may not want your customers to avail more discount on products which are already selling at discount. So, you can restrict such products as well.
Please go to Dashboard>Market>Discount Coupon>Add New Discount Coupon.