Michigan judge denies Coinbase's injunction against sports event contracts enforcement
Prefer us on GoogleA Michigan federal judge has denied Coinbase's preliminary injunction bid to block state enforcement of sports event contracts. U.S. District Judge Shalina Kumar ruled that Coinbase did not demonstrate a likelihood of success in its claims that federal law preempts Michigan's jurisdiction. Coinbase sued Michigan in December 2025, arguing that prediction markets fall under the exclusive jurisdiction of the Commodity Futures Trading Commission (CFTC) rather than state gaming regulators. The exchange aims to provide customers, including those in Michigan, access to event contracts offered by Kalshi. Coinbase contended that Michigan's gambling laws are 'conflict preempted' due to their interference with federal regulatory efforts. However, Judge Kumar rejected these arguments, stating that Coinbase failed to show that sports event contracts qualify as swaps under the Commodity Exchange Act (CEA) and that compliance with both federal and state law is not impossible. The case is part of a broader legal battle over prediction markets regulation, with Coinbase also suing Illinois and Connecticut. The CFTC has initiated lawsuits against several states to establish federal oversight of the industry.
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