<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>加密貨幣交易所 Coinbase 已對美國三個州提起訴訟，因其在事件合約分類上的監管衝突，希望為其新推出的預測市場獲得聯邦保護。</p>
<h2>Coinbase 挑戰州政府對預測市場的權威</h2>
<p>根據交易所首席法律官 Paul Grewal 在 12 月 19 日的 X 平台帖子，Coinbase 已對密歇根州、伊利諾伊州和康涅狄格州提起法律訴訟，要求聯邦法院確認預測市場應歸商品期貨交易委員會（CFTC）管轄，而非州級賭博法。</p>
<p>“一些州認為，當預測市場與體育相關時，它們不在 CFTC 的管轄範圍內。但國會故意選擇僅排除少數特定的基礎資產——包括洋葱和電影票房收入——不在商品定義之內。這清楚表明，所有其他主題（包括體育賽事）都在 CFTC 的範圍內，” Grewal 寫道。</p>
<p>Coinbase 在其法庭文件中將爭議框架視為法律和結構性問題，認為如果允許每個州獨立決定聯邦監管的預測市場的合法性，那麼最嚴格的監管制度實際上將成為國家標準。</p>
<h2>Coinbase 表示預測市場不是賭博</h2>
<p>與此同時，Grewal 一再強調，Coinbase 計劃的市場與傳統體育博彩並不相同。</p>
<p>“賭場只有在你輸的時候才能獲利，並設定賠率以最大化他們的利潤。預測市場是中立的交易所，對價格無動於衷，匹配買家和賣家，” 他解釋道。</p>
<p>因此，交易所認為將金融事件合約和體育博彩平台視為同一產品將誤解法律，並違背應根據《商品交易法》監管衍生品的聯邦框架。</p>
<p>Coinbase 本週早些時候推出了其預測市場，該產品直接集成在其主應用界面中，與加密貨幣和股票交易並列。</p>
<h2>美國各州對預測市場的抵制</h2>
<p>Coinbase 的預防性法律策略正值多個州監管機構和博彩委員會對來自 Kalshi、Crypto.com 和 Robinhood 等多個發行商的預測市場產品進行打壓。</p>
<p>例如，Kalshi 目前正捲入多起訴訟。</p>
<p>儘管 CFTC 在經過長時間審查後去年正式批准了 Kalshi 的事件市場，但該平台在馬里蘭州、內華達州和馬薩諸塞州等州面臨反對。</p>
<p>監管機構認為，與體育或政治相關的事件合約在功能上類似於賭博，因此應歸州管轄。</p>
<p>與此同時，Kalshi 採取了積極的法律立場，自一開始就對州監管機構提起了聯邦訴訟。</p>
<p>其努力取得了混合結果，一些聯邦法院在新澤西州和康涅狄格州等地發佈了臨時保護令，而其他州如馬里蘭州和內華達州則支持州監管機構，允許執法行動繼續進行。</p>
<p>最近，康涅狄格州對 Kalshi 發佈了停止令，促使其迅速提出法律挑戰，並在 2026 年 2 月的關鍵聽證會前獲得臨時緩解。</p>
<p>該帖子《Coinbase 起訴三州以獲得預測市場的聯邦支持》最初出現在 Invezz 上。</p>

COIN

2 倍做多 COIN ETF - GraniteShares

南方兩倍做空Coinbase

<p>Coinbase 已對密歇根州、伊利諾伊州和康涅狄格州提起訴訟，以獲得聯邦對其預測市場的支持，挑戰各州對其分類的權力。Coinbase 認為這些市場應由商品期貨交易委員會（CFTC）監管，而不是州的賭博法律，強調它們與傳統的體育博彩不同。這項法律行動旨在防止各州獨立決定合法性，這可能導致限制性的國家標準。這一舉措是繼 Kalshi 等其他平台面臨類似法律挑戰之後的行動</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>加密貨幣交易所 Coinbase 已對美國三個州提起訴訟，因其在事件合約分類上的監管衝突，希望為其新推出的預測市場獲得聯邦保護。</p>
</div><h2>Coinbase challenges state authority over prediction markets</h2>
<div class="lb-trans"><h2>Coinbase 挑戰州政府對預測市場的權威</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>根據交易所首席法律官 Paul Grewal 在 12 月 19 日的 X 平台帖子，Coinbase 已對密歇根州、伊利諾伊州和康涅狄格州提起法律訴訟，要求聯邦法院確認預測市場應歸商品期貨交易委員會（CFTC）管轄，而非州級賭博法。</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>“一些州認為，當預測市場與體育相關時，它們不在 CFTC 的管轄範圍內。但國會故意選擇僅排除少數特定的基礎資產——包括洋葱和電影票房收入——不在商品定義之內。這清楚表明，所有其他主題（包括體育賽事）都在 CFTC 的範圍內，” Grewal 寫道。</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 在其法庭文件中將爭議框架視為法律和結構性問題，認為如果允許每個州獨立決定聯邦監管的預測市場的合法性，那麼最嚴格的監管制度實際上將成為國家標準。</p>
</div><h2>Coinbase says prediction markets are not gambling</h2>
<div class="lb-trans"><h2>Coinbase 表示預測市場不是賭博</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>與此同時，Grewal 一再強調，Coinbase 計劃的市場與傳統體育博彩並不相同。</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>“賭場只有在你輸的時候才能獲利，並設定賠率以最大化他們的利潤。預測市場是中立的交易所，對價格無動於衷，匹配買家和賣家，” 他解釋道。</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，交易所認為將金融事件合約和體育博彩平台視為同一產品將誤解法律，並違背應根據《商品交易法》監管衍生品的聯邦框架。</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 本週早些時候推出了其預測市場，該產品直接集成在其主應用界面中，與加密貨幣和股票交易並列。</p>
</div><h2>US states push back against prediction markets</h2>
<div class="lb-trans"><h2>美國各州對預測市場的抵制</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 的預防性法律策略正值多個州監管機構和博彩委員會對來自 Kalshi、Crypto.com 和 Robinhood 等多個發行商的預測市場產品進行打壓。</p>
</div><p>Kalshi, for instance, is embroiled in multiple lawsuits at the time.</p>
<div class="lb-trans"><p>例如，Kalshi 目前正捲入多起訴訟。</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>儘管 CFTC 在經過長時間審查後去年正式批准了 Kalshi 的事件市場，但該平台在馬里蘭州、內華達州和馬薩諸塞州等州面臨反對。</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>監管機構認為，與體育或政治相關的事件合約在功能上類似於賭博，因此應歸州管轄。</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>與此同時，Kalshi 採取了積極的法律立場，自一開始就對州監管機構提起了聯邦訴訟。</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>其努力取得了混合結果，一些聯邦法院在新澤西州和康涅狄格州等地發佈了臨時保護令，而其他州如馬里蘭州和內華達州則支持州監管機構，允許執法行動繼續進行。</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，康涅狄格州對 Kalshi 發佈了停止令，促使其迅速提出法律挑戰，並在 2026 年 2 月的關鍵聽證會前獲得臨時緩解。</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>該帖子《Coinbase 起訴三州以獲得預測市場的聯邦支持》最初出現在 Invezz 上。</p>
</div>

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

- Coinbase 對三州提起訴訟，尋求聯邦支持其預測市場。  
- 此舉旨在確認預測市場受商品期貨交易委員會監管，而非州級賭博法。  
- 該公司認為，預測市場與傳統博彩公司不同，後者會設定有利於自己的賠率。

Coinbase 起訴美國三個州以爭取聯邦對預測市場的支持