Coinbase lawsuits allege Illinois and Michigan regulators may act against Kalshi contracts
Coinbase filed lawsuits in Connecticut, Michigan and Illinois challenging state regulators’ potential actions against its planned hosting of Kalshi contracts, including sports contracts. The filings allege that Michigan and Illinois regulators may bring enforcement action; the suits do not specify what action could follow.
The cases put planned distribution of Kalshi sports contracts through Coinbase in three states under legal challenge.