Coinbase Challenges State Regulations: Files Lawsuits in 3 States Over Prediction Markets

Cryptocurrency exchange giant Coinbase has initiated legal action against regulatory bodies in three U.S. states. The lawsuits target recent attempts by state regulators to oversee and potentially restrict prediction markets, which are often built on blockchain technology. Coinbase argues that these state-level regulatory moves create a fragmented and challenging legal environment for innovation in the crypto sector. The company's legal push underscores the ongoing tension between the rapidly evolving digital asset industry and existing financial regulations. This action by a leading platform like Coinbase is seen as a significant defense of the broader prediction market and DeFi ecosystems within the United States.