TechFlow News: On February 5, according to Cointelegraph, a Nevada judge denied the state gaming regulatory agency’s application for an emergency temporary restraining order, temporarily allowing Coinbase’s newly launched prediction market product to remain operational. Previously, the Nevada Gaming Control Board had accused Coinbase of offering sports event contract betting services without proper licensing. However, the court decided to postpone the hearing until next week, giving the exchange an opportunity to respond. Coinbase’s Chief Legal Officer Paul Grewal stated that the company has filed a lawsuit in federal court asserting that the Commodity Futures Trading Commission (CFTC) holds “exclusive jurisdiction” over such contracts and arguing that the state’s enforcement action violates federal law.
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