Coinbase Warns Of 'Immediate And Irreparable' Harm As It Sues Three US States Over Prediction Market Regulation

Benzinga12-19 16:27

Coinbase Global Inc. (NASDAQ:COIN) has filed lawsuits against Michigan, Illinois, and Connecticut, challenging state authority over the regulation of prediction markets. The legal action, initiated on...

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The legal action, initiated on...</p>\n\n<a href=\"https://www.benzinga.com/crypto/25/12/49499753/coinbase-warns-of-immediate-and-irreparable-harm-as-it-sues-three-us-states-over-prediction-market-regulation\">Source Link</a>\n\n</div>\n","source":"Benzinga","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Warns Of 'Immediate And Irreparable' Harm As It Sues Three US States Over Prediction Market Regulation</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase Warns Of 'Immediate And Irreparable' Harm As It Sues Three US States Over Prediction Market Regulation\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-12-19 16:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/crypto/25/12/49499753/coinbase-warns-of-immediate-and-irreparable-harm-as-it-sues-three-us-states-over-prediction-market-regulation><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Coinbase Global Inc. (NASDAQ:COIN) has filed lawsuits against Michigan, Illinois, and Connecticut, challenging state authority over the regulation of prediction markets. The legal action, initiated on...</p>\n\n<a href=\"https://www.benzinga.com/crypto/25/12/49499753/coinbase-warns-of-immediate-and-irreparable-harm-as-it-sues-three-us-states-over-prediction-market-regulation\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4547","symbol_name":"WSB热门概念","start_time":0,"source_url":"https://www.benzinga.com/crypto/25/12/49499753/coinbase-warns-of-immediate-and-irreparable-harm-as-it-sues-three-us-states-over-prediction-market-regulation","article_id":"2592154233","we_media_id":null,"thumbnails":["https://www.benzinga.com/files/images/story/2025/12/19/Germany---April-19-2024-Coinbase-Mobile-.jpeg"],"rights":{"source":"Benzinga","url":"https://www.benzinga.com/crypto/25/12/49499753/coinbase-warns-of-immediate-and-irreparable-harm-as-it-sues-three-us-states-over-prediction-market-regulation","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2592154233","pubTimestamp":1766132859,"columns":[],"sourceInfo":{"source_id":"Benzinga","name":"Benzinga Cypto"},"weMediaInfo":null,"summary":"Coinbase Global Inc. (NASDAQ: COIN) has filed lawsuits against Michigan, Illinois, and Connecticut, challenging state authority over the regulation of prediction markets. ","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4547":"WSB热门概念","BK4516":"特朗普概念","LU1861558580.USD":"日兴方舟颠覆性创新基金B","BK4535":"淡马锡持仓","LU1861217088.USD":"贝莱德金融科技A2","BK4596":"哈里斯概念","LU1861220207.SGD":"Blackrock FinTech A2 SGD-H","BK4600":"加密货币概念","BK4588":"碎股","BK4112":"金融交易所和数据","BK4595":"比特币概念","BK4551":"寇图资本持仓","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","BK4539":"次新股","BK4554":"元宇宙及AR概念","LU2360107671.USD":"BGF FINTECH \"A4\" (USD) INC","COIN":"Coinbase Global, Inc.","BK4585":"ETF&股票定投概念","BK4127":"投资银行业与经纪业"},"translate_title":"Coinbase就预测市场监管起诉美国三个州，警告称将造成“直接且不可挽回”的损害","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"COIN":1.96},"content_text":"Coinbase Global Inc. (NASDAQ:COIN) has filed lawsuits against Michigan, Illinois, and Connecticut, challenging state authority over the regulation of prediction markets. The legal action, initiated on Thursday, seeks to establish that the Commodity Futures Trading Commission (CFTC) is the sole regulator of these markets, not individual state gaming regulators. The company argued in its court filing in Illinois that state intervention could cause “immediate and irreparable” harm to its operations.In a post on X, Coinbase’s Chief Legal Officer, Paul Grewal, said: “Today, Coinbase filed lawsuits in CT, MI, and IL to confirm what is clear: prediction markets fall squarely under the jurisdiction of the CFTC, not any individual state gaming regulator (let alone 50).” “State efforts to control or outright block these markets stifle innovation and violate the law.”\n\nSee also: Coinbase: Analyst Slashes Price Target, Says Investors ‘Miss The Big Picture’Why Coinbase Is Challenging State AuthorityCoinbase’s lawsuits come on the heels of its announcement to enter the prediction markets sector via a partnership with Kalshi, a CFTC-regulated platform. The company plans to offer event-contract trading starting in January 2026. Grewal further clarified that prediction markets differ from traditional sportsbooks, stating, “Prediction markets are fundamentally different from sportsbooks. Casinos win only if you lose and set odds to maximize their profits. Prediction markets are neutral exchanges, indifferent to price, that match buyers and sellers.”The legal battle highlights the growing tension between federal and state authorities over the regulation of emerging financial technologies. States like Connecticut have already taken action against operators like Kalshi, Robinhood (NASDAQ:HOOD), and Crypto.com, issuing cease-and-desist notices for allegedly unlicensed sports betting products.Coinbase’s legal challenge could set a precedent for how prediction markets are regulated across the U.S., potentially influencing the future landscape of this burgeoning sector. COIN Price Action: The stock closed down about 2% at $239.20 on Thursday, having already lost 7% of its value this year, according to data from Benzinga Pro. READ NEXT: \nTrump Signs Executive Order Targeting ‘Excessive State Regulation’ of AI, Will Launch Task Force To Challenge Laws ‘Inconsistent’ With Federal Policy\nImage via ShutterstockCOINCoinbase Global Inc$240.70-%OverviewHOODRobinhood Markets Inc$117.95-%Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2592154233","isCrawlerRequest":true}