Coinbase borrows Kalshi’s playbook, sues three states over prediction markets
Coinbase borrows Kalshi’s playbook, sues three states over prediction markets
Coinbase sued regulators in Connecticut, Illinois and Michigan, arguing CFTC-regulated prediction markets fall under federal commodities law, not state gambling rules.
Coinbase Sues Three States Over Prediction Markets
A leading US crypto exchange is taking on state regulators in a bid to clarify the regulatory framework for prediction markets.
Coinbase has filed lawsuits against regulators in Connecticut, Illinois, and Michigan, arguing that CFTC-regulated prediction markets fall under federal commodities law rather than state gambling rules.
The Case Against State Regulation
According to the complaints, prediction markets operate on a model similar to traditional derivatives, offering users a chance to bet on future events. Coinbase argues that this type of betting is subject to federal regulation, as outlined in the Commodity Exchange Act (CEA).
- The CEA regulates commodities trading and sets rules for exchanges.
- Coinbase claims that prediction markets are a form of commodity-based wagering.
Risk Assessment
Risk level: high. Credibility: medium. Warning for readers: A leading US crypto exchange is suing regulators in multiple states, which may lead to changes in how certain types of betting are regulated.
Staying Ready
As the regulatory landscape continues to evolve, investors can benefit from staying informed and adaptable. Consider upgrading your home office or monitoring setup with the latest tools, such as a high-quality dash cam for enhanced security or a state-of-the-art multimedia player for improved entertainment options.
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- Hizpo 10.33" Car Radio Multimedia Player: Upgrade your in-car entertainment experience with this Android 13-powered device.
- E-ACE Dash Cam 4K: Enhance your security and monitoring capabilities with this dual-lens dash cam featuring GPS, Wi-Fi, and parking mode.
Risk Assessment
Risk level: high
Investor note: A leading US crypto exchange is suing regulators in multiple states, which may lead to changes in how certain types of betting are regulated.
This article is based on publicly available information from multiple financial news sources.
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