Coinbase CLO: A hearing will be held next week regarding Nevada's move to block the launch of prediction market contracts

Coinbase Chief Legal Officer Paul Grewal stated on the X platform that the U.S. Congress has granted the Commodity Futures Trading Commission (CFTC) exclusive jurisdiction over the launch of related prediction market contracts. The latest news is that a federal court hearing in Nevada has been scheduled for next week, and he also expressed gratitude for the handling of the relevant court matters.

Paul Grewal previously stated that Nevada regulators attempted to unilaterally prevent the launch of any prediction market event contracts without giving Coinbase an opportunity to defend itself, and that due process should at least include the opportunity to obtain a hearing.