Tag: GamblingLaw

Coinbase Sues Michigan, Illinois & Connecticut Over Prediction Markets—A Federal CFTC vs State Gambling Clash

CFTC Charlene Lensburg -
US crypto exchange Coinbase has filed lawsuits against Michigan, Illinois, and Connecticut after state officials moved to treat “prediction markets” as gambling. Coinbase argues these products are federally regulated derivatives (“event contracts”) under the Commodity Futures Trading Commission (CFTC)—and that a state-by-state crackdown would choke a fast-growing, high-risk “everything exchange” trend.