TechFlow reports that on February 5, Paul Grewal, Coinbase’s Chief Legal Officer, stated on X that the U.S. Congress has granted the Commodity Futures Trading Commission (CFTC) exclusive jurisdiction over the listing of relevant prediction market contracts. The latest update is that a hearing before the U.S. District Court for the District of Nevada has been scheduled for next week. Grewal also expressed gratitude to the court for its handling of the matter.
Previously, Grewal noted that Nevada state regulators attempted unilaterally to block Coinbase from listing any prediction market event contracts without affording the company an opportunity to respond. He emphasized that due process at a minimum requires the right to a hearing.
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