Coinbase Appeals Connecticut Ruling Over Sports Event Contracts
- —Coinbase filed its opening brief with the Second Circuit on October 8
- —Connecticut federal court denied preliminary injunction on August 10
- —Coinbase argues contracts are swaps under CFTC's exclusive jurisdiction
- —Connecticut maintains the products are sports wagers subject to state gambling laws
Why it matters: The outcome will determine whether states can regulate prediction market contracts, impacting the prediction market industry and Coinbase.
Source: The Crypto Times