Operator v. state
Coinbase Financial Markets, Inc. v. Tong
U.S. District Court for the District of Connecticut, 3:25-cv-02121
On appeal
Coinbase appealed a Aug. 10, 2026 district order (2d Cir. No. 26-2297).
The question
Whether the Commodity Exchange Act preempts Connecticut gambling or sports-wagering law as applied to event contracts listed on a CFTC-designated contract market.
Coinbase's derivatives entity challenged Connecticut's enforcement before the same judge as Kalshi's case; PI argument was heard the same day as Kalshi's, and Coinbase appealed in August 2026.
Docket timeline
Appeal docketed from a Aug. 10, 2026 order.
Source: dockets.justia.com
PI hearing.
Source: dockets.justia.com
Complaint and PI motion filed.
Source: dockets.justia.com