<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/20251219_1550_Coinbase-Legal-Battle_simple_compose_01kcv1zpsnetr9x0v6v95pw2je.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1536" height="1024" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/20251219_1550_Coinbase-Legal-Battle_simple_compose_01kcv1zpsnetr9x0v6v95pw2je.png"/></p>
<p>加密货币交易所 Coinbase 已对美国三个州提起诉讼，因其在事件合约分类上的监管冲突，希望为其新推出的预测市场获得联邦保护。</p>
<h2>Coinbase 挑战州政府对预测市场的权威</h2>
<p>根据交易所首席法律官 Paul Grewal 在 12 月 19 日的 X 平台帖子，Coinbase 已对密歇根州、伊利诺伊州和康涅狄格州提起法律诉讼，要求联邦法院确认预测市场应归商品期货交易委员会（CFTC）管辖，而非州级赌博法。</p>
<p>“一些州认为，当预测市场与体育相关时，它们不在 CFTC 的管辖范围内。但国会故意选择仅排除少数特定的基础资产——包括洋葱和电影票房收入——不在商品定义之内。这清楚表明，所有其他主题（包括体育赛事）都在 CFTC 的范围内，” Grewal 写道。</p>
<p>Coinbase 在其法庭文件中将争议框架视为法律和结构性问题，认为如果允许每个州独立决定联邦监管的预测市场的合法性，那么最严格的监管制度实际上将成为国家标准。</p>
<h2>Coinbase 表示预测市场不是赌博</h2>
<p>与此同时，Grewal 一再强调，Coinbase 计划的市场与传统体育博彩并不相同。</p>
<p>“赌场只有在你输的时候才能获利，并设定赔率以最大化他们的利润。预测市场是中立的交易所，对价格无动于衷，匹配买家和卖家，” 他解释道。</p>
<p>因此，交易所认为将金融事件合约和体育博彩平台视为同一产品将误解法律，并违背应根据《商品交易法》监管衍生品的联邦框架。</p>
<p>Coinbase 本周早些时候推出了其预测市场，该产品直接集成在其主应用界面中，与加密货币和股票交易并列。</p>
<h2>美国各州对预测市场的抵制</h2>
<p>Coinbase 的预防性法律策略正值多个州监管机构和博彩委员会对来自 Kalshi、Crypto.com 和 Robinhood 等多个发行商的预测市场产品进行打压。</p>
<p>例如，Kalshi 目前正卷入多起诉讼。</p>
<p>尽管 CFTC 在经过长时间审查后去年正式批准了 Kalshi 的事件市场，但该平台在马里兰州、内华达州和马萨诸塞州等州面临反对。</p>
<p>监管机构认为，与体育或政治相关的事件合约在功能上类似于赌博，因此应归州管辖。</p>
<p>与此同时，Kalshi 采取了积极的法律立场，自一开始就对州监管机构提起了联邦诉讼。</p>
<p>其努力取得了混合结果，一些联邦法院在新泽西州和康涅狄格州等地发布了临时保护令，而其他州如马里兰州和内华达州则支持州监管机构，允许执法行动继续进行。</p>
<p>最近，康涅狄格州对 Kalshi 发布了停止令，促使其迅速提出法律挑战，并在 2026 年 2 月的关键听证会前获得临时缓解。</p>
<p>该帖子《Coinbase 起诉三州以获得预测市场的联邦支持》最初出现在 Invezz 上。</p>

COIN

2 倍做多 COIN ETF - GraniteShares

南方两倍做空Coinbase

<p>Coinbase 已对密歇根州、伊利诺伊州和康涅狄格州提起诉讼，以获得联邦对其预测市场的支持，挑战各州对其分类的权力。Coinbase 认为这些市场应由商品期货交易委员会（CFTC）监管，而不是州的赌博法律，强调它们与传统的体育博彩不同。这项法律行动旨在防止各州独立决定合法性，这可能导致限制性的国家标准。这一举措是继 Kalshi 等其他平台面临类似法律挑战之后的行动</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/20251219_1550_Coinbase-Legal-Battle_simple_compose_01kcv1zpsnetr9x0v6v95pw2je.png" alt="" original-src="https://invezz.com/wp-content/uploads/2025/12/20251219_1550_Coinbase-Legal-Battle_simple_compose_01kcv1zpsnetr9x0v6v95pw2je.png"/></p>
<p>Crypto exchange Coinbase has filed lawsuits against three US states over regulatory conflicts surrounding the classification of event contracts, as it hopes to secure federal protection for its newly launched prediction markets.</p>
<div class="lb-trans"><p>加密货币交易所 Coinbase 已对美国三个州提起诉讼，因其在事件合约分类上的监管冲突，希望为其新推出的预测市场获得联邦保护。</p>
</div><h2>Coinbase challenges state authority over prediction markets</h2>
<div class="lb-trans"><h2>Coinbase 挑战州政府对预测市场的权威</h2>
</div><p>Per a Dec. 19 X post from the exchange’s chief legal officer Paul Grewal, Coinbase has filed legal actions against the states of Michigan, Illinois, and Connecticut, where it has asked federal courts to affirm that prediction markets fall under the purview of the Commodity Futures Trading Commission rather than state-level gambling laws.</p>
<div class="lb-trans"><p>根据交易所首席法律官 Paul Grewal 在 12 月 19 日的 X 平台帖子，Coinbase 已对密歇根州、伊利诺伊州和康涅狄格州提起法律诉讼，要求联邦法院确认预测市场应归商品期货交易委员会（CFTC）管辖，而非州级赌博法。</p>
</div><p>“Some states think prediction markets fall outside the CFTC’s jurisdiction when they relate to sports. But Congress deliberately chose to exclude only a handful of specific underliers—including onions and motion picture box office receipts—from the definition of commodity. This makes clear that all other subjects (including sporting events) fall within the CFTC’s scope,” Grewal wrote.</p>
<div class="lb-trans"><p>“一些州认为，当预测市场与体育相关时，它们不在 CFTC 的管辖范围内。但国会故意选择仅排除少数特定的基础资产——包括洋葱和电影票房收入——不在商品定义之内。这清楚表明，所有其他主题（包括体育赛事）都在 CFTC 的范围内，” Grewal 写道。</p>
</div><p>Coinbase has framed the dispute as both a legal and structural issue in its court filings, arguing that if each state is allowed to independently determine the legality of federally supervised prediction markets, that would mean the most restrictive regime effectively becomes the national standard.</p>
<div class="lb-trans"><p>Coinbase 在其法庭文件中将争议框架视为法律和结构性问题，认为如果允许每个州独立决定联邦监管的预测市场的合法性，那么最严格的监管制度实际上将成为国家标准。</p>
</div><h2>Coinbase says prediction markets are not gambling</h2>
<div class="lb-trans"><h2>Coinbase 表示预测市场不是赌博</h2>
</div><p>Meanwhile, Grewal has repeatedly stressed that Coinbase’s planned markets and traditional sportsbooks are not the same.</p>
<div class="lb-trans"><p>与此同时，Grewal 一再强调，Coinbase 计划的市场与传统体育博彩并不相同。</p>
</div><p>“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,” he explained.</p>
<div class="lb-trans"><p>“赌场只有在你输的时候才能获利，并设定赔率以最大化他们的利润。预测市场是中立的交易所，对价格无动于衷，匹配买家和卖家，” 他解释道。</p>
</div><p>As such, the exchange believes treating both financial event contracts and sports betting platforms as the same product would misinterpret the law and go against the federal framework that should govern derivatives under the Commodity Exchange Act.</p>
<div class="lb-trans"><p>因此，交易所认为将金融事件合约和体育博彩平台视为同一产品将误解法律，并违背应根据《商品交易法》监管衍生品的联邦框架。</p>
</div><p>Coinbase launched its prediction markets earlier this week, with the product integrated directly within its main app interface alongside crypto and stock trading.</p>
<div class="lb-trans"><p>Coinbase 本周早些时候推出了其预测市场，该产品直接集成在其主应用界面中，与加密货币和股票交易并列。</p>
</div><h2>US states push back against prediction markets</h2>
<div class="lb-trans"><h2>美国各州对预测市场的抵制</h2>
</div><p>Coinbase’s preemptive legal strategy comes as a number of state regulators and gaming commissions have gone up against prediction market offerings from various issuers such as Kalshi, Crypto.com, and Robinhood.</p>
<div class="lb-trans"><p>Coinbase 的预防性法律策略正值多个州监管机构和博彩委员会对来自 Kalshi、Crypto.com 和 Robinhood 等多个发行商的预测市场产品进行打压。</p>
</div><p>Kalshi, for instance, is embroiled in multiple lawsuits at the time.</p>
<div class="lb-trans"><p>例如，Kalshi 目前正卷入多起诉讼。</p>
</div><p>Even though the CFTC formally approved Kalshi’s event markets last year after a lengthy review, the platform has faced opposition across states like Maryland, Nevada, and Massachusetts.</p>
<div class="lb-trans"><p>尽管 CFTC 在经过长时间审查后去年正式批准了 Kalshi 的事件市场，但该平台在马里兰州、内华达州和马萨诸塞州等州面临反对。</p>
</div><p>Regulators have argued that event contracts tied to sports or politics functionally resemble betting and therefore fall under state jurisdiction as gambling.</p>
<div class="lb-trans"><p>监管机构认为，与体育或政治相关的事件合约在功能上类似于赌博，因此应归州管辖。</p>
</div><p>Kalshi, in the meantime, has taken an aggressive legal posture and has initiated federal lawsuits against state regulators from the outset.</p>
<div class="lb-trans"><p>与此同时，Kalshi 采取了积极的法律立场，自一开始就对州监管机构提起了联邦诉讼。</p>
</div><p>Its efforts have produced mixed results, with some federal courts issuing temporary protections in places like New Jersey and Connecticut, while others, like Maryland and Nevada, have sided with state regulators and allowed enforcement actions to proceed.</p>
<div class="lb-trans"><p>其努力取得了混合结果，一些联邦法院在新泽西州和康涅狄格州等地发布了临时保护令，而其他州如马里兰州和内华达州则支持州监管机构，允许执法行动继续进行。</p>
</div><p>Most recently, the state of Connecticut issued a cease-and-desist order against Kalshi, prompting a swift legal challenge and a temporary reprieve ahead of a key hearing in February 2026.</p>
<div class="lb-trans"><p>最近，康涅狄格州对 Kalshi 发布了停止令，促使其迅速提出法律挑战，并在 2026 年 2 月的关键听证会前获得临时缓解。</p>
</div><p>The post Coinbase sues three US states to secure federal backing for predictions market appeared first on Invezz</p>
<div class="lb-trans"><p>该帖子《Coinbase 起诉三州以获得预测市场的联邦支持》最初出现在 Invezz 上。</p>
</div>

Coinbase sues three US states to secure federal backing for predictions market

- Coinbase 对三州提起诉讼，寻求联邦支持其预测市场。  
- 此举旨在确认预测市场受商品期货交易委员会监管，而非州级赌博法。  
- 该公司认为，预测市场与传统博彩公司不同，后者会设定有利于自己的赔率。

Coinbase 起诉美国三个州以争取联邦对预测市场的支持