Coinbase Files Lawsuits in Multiple States Challenging Regulations of Prediction Markets

Coinbase has filed lawsuits against regulators in three U.S. states—Connecticut, Illinois, and Michigan— challenging their attempts to regulate prediction markets as gambling. The crypto exchange argues that prediction markets event contracts on outcomes like elections, economic data, or sports fall under the exclusive jurisdiction of the federal Commodity Futures Trading Commission (CFTC) as derivatives, not

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