Coinbase Warns Against State-by-State Prediction Markets Chaos, Backs CFTC Oversight
Coinbase argued that Rule 40.11 is being applied as a blanket ban when the actual statute requires two separate determinations. Coinbase recently filed a formal comment letter with the Commodity Futures Trading Commission (CFTC), arguing that prediction markets are derivatives that fall under federal jurisdiction and should remain there. The company warned that letting states…