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Coinbase Sues Multiple U.S. States Over Predictive Market Regulation

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Coinbase has filed lawsuits in Michigan, Illinois, and Connecticut to challenge state-level regulation of predictive markets. The firm argues that federal oversight by the CFTC is exclusive, under EU Markets in Crypto-Assets Regulation principles. In Illinois, Coinbase asked for immediate relief, warning of irreparable harm from state interference. The move follows a partnership with Kalshi, a CFTC-regulated platform. Coinbase also emphasized the need for clear rules to support Countering the Financing of Terrorism efforts.
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