Coinbase Legal Chief Accuses States of "Gaslighting" Over Crypto Prediction Markets

The head of litigation at leading cryptocurrency exchange Coinbase has publicly accused state regulators of "gaslighting" the industry regarding prediction markets. In a strong statement, the executive criticized the inconsistent and, in his view, misleading regulatory stance that several U.S. states have adopted towards these crypto-based forecasting platforms. Prediction markets, which allow users to trade on the outcome of future events, represent a growing niche within the blockchain ecosystem. The Coinbase legal expert argues that this regulatory ambiguity stifles innovation and creates uncertainty for companies and investors operating in the crypto space. This confrontation highlights the ongoing tension between major crypto entities like Coinbase and regulatory bodies as the industry seeks clearer legal frameworks.