Coinbase has filed lawsuits against financial regulators in Michigan, Illinois, and Connecticut, launching an aggressive preemptive challenge to prevent states from regulating its planned prediction market products. The legal filings seek court orders to affirm that prediction markets are commodities, placing them under the exclusive jurisdiction of the federal Commodity Futures Trading Commission (CFTC), not state-level gaming and gambling laws. “Some states think prediction markets fall outside the CFT ...