Coinbase CLO: Hearing on Nevada's Attempt to Block Prediction Market Contracts Scheduled for Next Week

Odaily News According to Paul Grewal, Chief Legal Officer of Coinbase, on platform X, the U.S. Congress has granted the U.S. Commodity Futures Trading Commission (CFTC) exclusive jurisdiction over the launch of relevant prediction market contracts. The latest update is that a hearing in the Nevada federal court has been scheduled for next week. He also expressed gratitude to the relevant court for its handling of the matter. Paul Grewal previously stated that Nevada regulators attempted to unilaterally block the launch of any prediction market event contracts without giving Coinbase an opportunity to defend itself, arguing that due process should at least include the right to a hearing.