Coinbase faces Michigan lawsuit as prediction market regulation battle escalates
A legal battle over prediction markets is heating up as Detroit backs Michigan officials in their lawsuit against Coinbase. The dispute centres on whether these markets fall under federal or state oversight. Meanwhile, the DeepSnitch AI presale is nearing its deadline, with a Uniswap launch scheduled for March 31 at noon.
Separately, analysts have released price forecasts for Golem and THETA, projecting potential gains over the next few years. The Coinbase lawsuit revolves around who should regulate prediction markets—federal agencies or state authorities. The company argues that the Commodity Futures Trading Commission (CFTC) should have sole control, treating these markets as commodity derivatives. However, Michigan insists they violate state gambling laws and must be regulated locally.
Detroit's legal team plans to file an amicus brief supporting Michigan's position. Meanwhile, other states like Nevada and Tennessee have already issued cease-and-desist orders against platforms such as Kalshi, Polymarket, and Crypto.com, labelling them as unlicensed gambling operations, particularly for sports, election, and entertainment contracts.
In a separate development, the DeepSnitch AI presale is set to close on March 31, with a Uniswap launch at 12 PM the same day. The platform uses real-time on-chain data to detect malicious contracts and provide retail investors with market intelligence. A $5,000 investment at the current presale price of $0.04669 would yield around 107,089 DSNT tokens.
Elsewhere, crypto analysts have shared long-term price predictions. Golem could reach a peak of $0.137 by December 2027, with an average trading price of $0.0983 in 2028. THETA, on the other hand, may hit a maximum of $0.587 by December 2026, with an average value of $0.682 expected in 2027. The Coinbase lawsuit will determine whether prediction markets are governed by federal commodity laws or state gambling regulations. A decision could impact platforms like Kalshi and Polymarket, which already face legal challenges in multiple states.
For DeepSnitch AI, the upcoming Uniswap launch marks the end of its presale phase, offering investors a tool for real-time smart contract audits. Meanwhile, the price forecasts for Golem and THETA suggest cautious optimism for their future market performance.
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