Coinbase: Calls on the CFTC to Maintain Existing Rules for Prediction Markets

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Crypto news, Coinbase has officially responded to the U.S. Commodity Futures Trading Commission (CFTC), urging regulators to maintain the existing rules for prediction markets. In a letter submitted on April 30, the company stated that prediction markets already fall within current legal authority and that no new legislation is needed to regulate these products. Coinbase Chief Policy Officer Faryar Shirzad emphasized in the letter that prediction markets are one of the most dynamic areas within the derivatives market and called on regulators to adopt a principles-based approach, prioritizing market integrity. Coinbase also requested that the CFTC clarify how it intends to exercise its authority to block contracts deemed not to be in the public interest. The submission comes at a time when disputes over event contracts are emerging across states, including a lawsuit in Wisconsin, adding urgency to the regulatory debate. Coinbase’s stance positions it as one of the companies seeking federal clarity, amid ongoing jurisdictional disputes between state and federal regulators.

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