Polymarket Sues Massachusetts Attorney General Over Sports Betting Regulations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
Should l Buy COIN?
Source: Benzinga
- Legal Action Background: Polymarket filed a lawsuit against Massachusetts Attorney General Andrea Joy Campbell in federal court on Monday to prevent state interference in its operations, mirroring the legal struggles faced by rival Kalshi, which was ordered by a state judge to cease sports wagering within 30 days.
- Regulatory Authority Dispute: Polymarket's Chief Legal Officer Neal Kumar stated that Congress granted exclusive authority over event contracts to the CFTC, while Massachusetts argues that Kalshi operated without a sports betting license, leading the judge to side with the state.
- Market Impact Analysis: Prediction market volumes are surging, with Super Bowl trading expected to reach $3.1 billion in 2026, a 39% year-over-year increase, while Polymarket is valued at $9 billion and Kalshi at $11 billion, indicating that the Massachusetts ruling could reshape the entire industry landscape.
- Potential Risk Warning: Polymarket warns that similar enforcement by the state could cause “irreparable harm,” including disrupted operations, fragmented markets, collapsed liquidity, and eroded user trust, prompting the platform to seek injunctions to block state enforcement.
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Analyst Views on COIN
Wall Street analysts forecast COIN stock price to rise
25 Analyst Rating
17 Buy
7 Hold
1 Sell
Moderate Buy
Current: 141.090
Low
230.00
Averages
361.63
High
440.00
Current: 141.090
Low
230.00
Averages
361.63
High
440.00
About COIN
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides a platform that serves as a compliant on-ramp to the onchain economy and enables users to engage in a variety of activities with their crypto assets in both proprietary and third-party product experiences enabled by access to decentralized applications. It offers consumers their primary financial account for the cryptoeconomy; institutions a full-service prime brokerage platform with access to deep pools of liquidity across the crypto marketplace, and developers a suite of products granting access to build onchain. Its platform helps people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and global transfers. It offers products and services to various customer groups: individuals, businesses, institutions, and developers. Its transaction products consist of consumer trading, prime Trading, markets, base protocol and Coinbase wallet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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