The Coinbase (NASDAQ: COIN) crypto exchange has launched lawsuits against three U.S. states, Connecticut, Illinois, and Michigan, arguing that federally regulated prediction markets fall under the U.S. Commodity Futures Trading Commission's (CFTC) exclusive authority, not state gambling laws. Coinbase is taking three U.S. states to court in a bid to secure federal protection for its upcoming prediction markets, opening a new legal front in the ongoing debate over whether event contracts are financial der ...