Coinbase Global, Inc. is reportedly suing the states of Michigan, Illinois, and Connecticut over their attempts to regulate prediction markets. The lawsuit highlights regulatory friction surrounding prediction market operators and how states seek oversight in this space.
The complaint contends that the state actions overstep regulatory boundaries and seeks to curb regulatory actions affecting the market. This filing illustrates ongoing policy battles at the crossroads of cryptocurrency and state law, with potential implications for how prediction market ventures are governed in the United States.
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