Coinbase Will Halt Sports Prediction Contracts In Michigan After State Deal
Published Updated
Coinbase Financial Markets will stop offering new sports-related event contracts to Michigan customers and close remaining open positions by Oct. 10. Michigan will not pursue enforcement while Coinbase follows the agreement, and the broader dispute over state oversight of federally registered event contracts remains unresolved.
What this rests on
What it means
Michigan customers using these sports prediction markets will see new contracts stop and open positions close by the Oct. 10 deadline. That change matters immediately to anyone in the state who still has positions open or expected to enter new contracts before then.
Before this agreement, Coinbase Financial Markets was offering sports-related event contracts to Michigan customers. In practice, new Michigan sports contracts will no longer be offered under the stated deadline, while the larger question over state regulation remains in place.
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Where this sits in the Bitcoin series
| When | What happened | Figure |
|---|---|---|
| 1.0 years ago | BTC a 1.152e+05 $ high | today it sits -28.1 % from there |
| 4 months ago | BTC a 5.857e+04 $ low | today it sits +41.4 % from there |
From what we have stored, starting 1.0 years ago.