Coinbase Takes on State Authority Regarding Prediction Markets
Coinbase's Legal Action: Coinbase has filed lawsuits against Michigan, Illinois, and Connecticut, claiming that the regulation of prediction markets should fall under the exclusive jurisdiction of the Commodity Futures Trading Commission (CFTC) rather than state gaming authorities.
Federal vs. State Jurisdiction: Coinbase argues that state attempts to regulate prediction markets could hinder innovation and violate federal law, emphasizing that only a limited number of commodities are excluded from CFTC oversight, leaving sports and other subjects under its jurisdiction.
Partnership with Kalshi: Coinbase plans to enter the prediction market industry through a partnership with Kalshi, a CFTC-regulated platform, aiming to offer event-based contract trading across the U.S. starting in 2026.
State Regulatory Concerns: State regulators have expressed concerns that prediction markets may violate state gambling laws, leading to enforcement actions and cease-and-desist orders against operators like Kalshi, which has also filed a lawsuit for temporary relief.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
About the author
