Overview
- Coinbase filed a formal response to the CFTC’s inquiry on prediction markets, saying the products already fit current law.
- Chief policy officer Faryar Shirzad argued event-based contracts work like futures and called for a principles-based regime.
- The company asked the CFTC to explain how it will use its power to block contracts it views as against the public interest.
- Coinbase said all users should get the same safeguards on and off platforms, which it argued would help keep trust as trading grows.
- The filing lands as states press gambling actions, including a Wisconsin case, and as the Senate Banking Committee plans a CLARITY Act markup next week.