Coinbase files lawsuits in 3 states over attempts to regulate prediction markets

Coinbase (COIN), the crypto exchange that plans to add prediction markets to its platform, is taking legal action in Connecticut, Illinois and Michigan over the states' attempts to regulate those markets. The company filed lawsuits to "confirm what is clear," Chief Legal Officer Paul Grewal wrote in a post on X on Friday: that prediction markets fall under the jurisdiction of the U.S. Commodity Futures Trading Commission (CFTC) and not individual state gaming regulators. Prediction markets let users spec ...