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Coinbase Files Lawsuits in 3 States Over Prediction Market Regulations

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Coinbase has filed lawsuits in Connecticut, Illinois, and Michigan over state-level regulation of prediction markets. The exchange claims these markets fall under federal CFTC jurisdiction, not state gaming laws. The lawsuits aim to clear the way for integrating prediction markets, including through Kalshi. Coinbase argues state actions violate federal law and hurt innovation in liquidity and crypto markets. The EU Markets in Crypto-Assets Regulation also highlights the need for clear, unified standards across jurisdictions.
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