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Coinbase Challenges Michigan Gambling Laws in Court Battle

12/23/2025

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Summary

Story summary

Coinbase sues Michigan’s Gaming Control Board and Attorney General Dana Nessel to block gambling laws from applying to event contracts.
Coinbase argues these event contracts fall under Commodity Futures Trading Commission (CFTC) jurisdiction.
At least seven states have issued cease-and-desist letters to Kalshi over similar contracts.
Regulators say the contracts resemble sports betting, creating legal ambiguity and prompting predictions of court rulings and a potential U.S. Supreme Court decision.

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Story summary

Coinbase sues Michigan’s Gaming Control Board and Attorney General Dana Nessel to block gambling laws from applying to event contracts.
Coinbase argues these event contracts fall under Commodity Futures Trading Commission (CFTC) jurisdiction.
At least seven states have issued cease-and-desist letters to Kalshi over similar contracts.
Regulators say the contracts resemble sports betting, creating legal ambiguity and prompting predictions of court rulings and a potential U.S. Supreme Court decision.