Coinbase Adopts Kalshi’s Strategy, Sues Three States Over Prediction Markets

2025-12-19 11:56:55

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Story Highlights* Coinbase challenges Connecticut, Illinois, and Michigan, saying CFTC-approved prediction markets are derivatives, not gambling, and need uniform federal rules.

Following Kalshi’s legal path, Coinbase’s lawsuits could decide who regulates U.S. prediction markets and shape the future of financial innovation.

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