Coinbase Challenges States in Prediction Markets Legal Battle
Update: 2025-12-19
Description
Coinbase, a cryptocurrency exchange, has filed lawsuits in three states to assert that its planned prediction markets fall under federal commodities law, not state gambling rules. The company argues that treating these markets as gambling could set a national standard based on the most restrictive state laws, undermining federalism. Coinbases chief legal officer, Paul Grewal, stated that these cases aim to confirm the CFTCs jurisdiction over prediction markets. Meanwhile, another company, Kalshi, has been testing this theory in court for nearly a year with mixed results. The combined cases could lead to a federal court ruling on whether prediction markets are regulated financial instruments or gambling products.
DNN | The Daily News Now!
The world’s first global local news network.
Every city. Every story. AI powered.
Hosted on Acast. See acast.com/privacy for more information.
Comments
In Channel
Download from Google Play
Download from App Store
United States00:00
00:00
1.0x
