Coinbase Warns Against State-by-State Prediction Markets Chaos, Backs CFTC Oversight
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Coinbase filed a formal comment with the CFTC arguing prediction markets are derivatives and should remain under federal jurisdiction. The firm warned state-level regulation would recreate regulatory “total chaos,” saying federal clarity is needed for crypto derivatives, DeFi/DEX prediction markets and broader adoption.
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Coinbase recently filed a formal comment letter with the Commodity Futures Trading Commission (CFTC), arguing that prediction markets are derivatives that fall under federal jurisdiction and should stay there.
The company warned that letting states write their own rules for these markets would recreate the regulatory “total chaos” that Congress built the federal derivatives framework to prevent in the first place.
Predictions Markets
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Predictions Markets
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