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Is Coinbase legal?

Coinbase's prediction markets, offered through its futures broker on Kalshi's exchange. Coinbase does not publish a state-by-state list we could confirm. Coinbase launched in all 50 states in January 2026. Its own help center could not be opened. Third-party reviews from September and October 2026 say Coinbase now excludes Nevada after a state-court injunction. Coinbase agreed to stop sports contracts in Michigan as of 2026-10-10.

Cite this page

Bluebook

Is Coinbase Legal? States, Lawsuits and Regulation, Prediction Market Laws (last updated Oct. 22, 2026), https://predictionmarketlaws.com/platforms/coinbase.

APA

Prediction Market Laws. (2026, October 22). Is Coinbase Legal? States, Lawsuits and Regulation. https://predictionmarketlaws.com/platforms/coinbase

Where Coinbase says it operates

Hover or tab through the map for each state.
  • No restriction found 50
  • Sports blocked 1

Source: DeFi Rate, Coinbase predictions review (updated 2026-10-21); Coinbase's own help center could not be opened, checked Oct. 22, 2026.

Open questions for Coinbase

State enforcement naming Coinbase

  1. Michigan: Settlement

    The Gaming Control Board announced Coinbase agreed to stop new sports-related event contracts for Michigan customers and close open positions by Oct. 10, 2026, in exchange for state forbearance while appeals proceed.

    Source: Michigan Gaming Control Board

  2. Illinois: Court order

    Judge Pacold granted in part the injunction motions in the Coinbase, CFTC and Kalshi cases, finding Illinois's licensing and related criminal provisions likely preempted as to the contracts at issue; the fee challenge was continued for more briefing.

    Source: N.D. Ill. Memorandum Opinion and Order, No. 1:26-cv-03659, Dkt. 99

  3. Ohio: Cease-and-desist

    The OCCC sent cease-and-desist letters to ten firms offering sports event contracts: Polymarket, Novig, Underdog, Coinbase, ProphetX, Robinhood, Gemini Titan, Webull, Plus500US and Moomoo. Recipients were told to confirm compliance in writing by October 16. Kalshi, already in litigation with the state, was not a recipient.

    Source: SBC Americas

  4. Connecticut: Cease-and-desist

    DCP ordered nine platforms (including ProphetX) to stop offering sports event contracts and issued about 30 subpoenas to vendors, payment firms, app stores and media outlets.

    Source: Office of Gov. Ned Lamont press release

  5. Michigan: Court order

    The Eastern District of Michigan denied Coinbase's request for a preliminary injunction against state enforcement; Coinbase appealed.

    Source: Ohio et al. amicus brief, U.S. Supreme Court No. 26-299

  6. Wisconsin: State lawsuit

    Attorney General Kaul filed three Dane County suits alleging that sports event contracts violate Wis. Stat. 945.03(1m) and create a public nuisance, seeking declarations and injunctions.

    Source: Wisconsin Department of Justice

  7. New York: State lawsuit

    The attorney general sued Coinbase Financial Markets and Gemini Titan in New York County Supreme Court over unlicensed gambling; both cases were removed to federal court.

    Source: DeFi Rate New York guide

  8. Nevada: Court order

    The state court issued a TRO in the Board's case against Coinbase Financial Markets, followed by a preliminary injunction on March 26, 2026.

    Source: Prediction Market Litigation Tracker (mickbransfield.com)

Lawsuits naming Coinbase

Operator v. state 6

United States v. state 5

State v. operator 4

Coinbase, state by state

StateCoinbaseState statusActions naming Coinbase
AlabamaNo restriction found No public action foundNone
AlaskaNo restriction found No public action foundNone
ArizonaNo restriction found In litigationNone
ArkansasNo restriction found No public action foundNone
CaliforniaNo restriction found No public action foundNone
ColoradoNo restriction found No public action foundNone
ConnecticutNo restriction foundCoinbase was among the nine platforms Connecticut ordered to stop offering sports event contracts (2026-09-10). DeFi Rate (2026-10-21) says Coinbase's response and current Connecticut availability are not confirmed. In litigation2
DelawareNo restriction found No public action foundNone
District of ColumbiaNo restriction found No public action foundNone
FloridaNo restriction found No public action foundNone
GeorgiaNo restriction found No public action foundNone
HawaiiNo restriction found No public action foundNone
IdahoNo restriction found No public action foundNone
IllinoisNo restriction foundOn 2026-10-02 the Northern District of Illinois partly granted Coinbase's preliminary-injunction motion (with the CFTC's and Kalshi's), finding Illinois's licensing provisions likely preempted. The fee issue was held over for more briefing. In litigation2
IndianaNo restriction found No public action foundNone
IowaNo restriction found In litigationNone
KansasNo restriction found No public action foundNone
KentuckyNo restriction found In litigationNone
LouisianaNo restriction found No public action foundNone
MaineNo restriction found No public action foundNone
MarylandNo restriction found In litigation1
MassachusettsNo restriction found In litigationNone
MichiganSports blockedCoinbase Financial Markets agreed with the Michigan Gaming Control Board to stop new sports-related event contracts for Michigan customers and close open positions by 12:00 a.m. ET on 2026-10-10. The halt covers contracts on KalshiEX and other DCMs and lasts while the Sixth Circuit appeals proceed. Court order in force2
MinnesotaNo restriction found In litigationNone
MississippiNo restriction found No public action foundNone
MissouriNo restriction found In litigationNone
MontanaNo restriction found Enforcement, no lawsuitNone
NebraskaNo restriction found No public action foundNone
NevadaNo restriction foundA Nevada state court granted the Gaming Control Board a preliminary injunction against Coinbase on 2026-03-26, barring event contracts in Nevada. DeFi Rate (2026-10-21) and NEXTPredict (2026-09-30) say Coinbase excludes Nevada, and NEXTPredict says Coinbase's help center lists Nevada as excluded. Court order in force1
New HampshireNo restriction found No public action foundNone
New JerseyNo restriction found In litigationNone
New MexicoNo restriction found In litigationNone
New YorkNo restriction found In litigation1
North CarolinaNo restriction found Law enactedNone
North DakotaNo restriction found No public action foundNone
OhioNo restriction foundCoinbase got one of the Ohio Casino Control Commission's Oct. 2, 2026 letters. News 5 Cleveland reported no response from Coinbase at the Oct. 16 deadline. In litigation1
OklahomaNo restriction found No public action foundNone
OregonNo restriction found No public action foundNone
PennsylvaniaNo restriction found No public action foundNone
Rhode IslandNo restriction found In litigationNone
South CarolinaNo restriction found No public action foundNone
South DakotaNo restriction found No public action foundNone
TennesseeNo restriction found In litigationNone
TexasNo restriction found No public action foundNone
UtahNo restriction found In litigationNone
VermontNo restriction found No public action foundNone
VirginiaNo restriction found No public action foundNone
WashingtonNo restriction found Court order in forceNone
West VirginiaNo restriction found No public action foundNone
WisconsinNo restriction found In litigation2
WyomingNo restriction found No public action foundNone

Questions people ask

Is Coinbase legal?
Coinbase Financial Markets, Inc. is a CFTC-registered futures commission merchant and NFA member, acting as intermediary for event contracts listed on Kalshi, a CFTC-designated contract market. Separate Coinbase affiliates hold a DCM (Coinbase Derivatives) and, since September 2026, a DCO (Coinbase Clearing), per the project's operators dataset (not re-verified today). Coinbase does not publish a state-by-state list we could confirm. Coinbase launched in all 50 states in January 2026. Its own help center could not be opened. Third-party reviews from September and October 2026 say Coinbase now excludes Nevada after a state-court injunction. Coinbase agreed to stop sports contracts in Michigan as of 2026-10-10. Several states argue its sports contracts are illegal gambling, and federal appeals courts have split on whether federal law overrides them.
In which states is Coinbase not available?
Coinbase does not publish a list we could confirm.
How old do you have to be to use Coinbase?
Coinbase requires users to be at least 18.
Is Coinbase being sued?
15 cases we track name Coinbase, including Coinbase v. Connecticut (Second Circuit); Coinbase v. Michigan (Sixth Circuit); United States & CFTC v. Kentucky (E.D. Ky.).

Sources

  1. Coinbase prediction markets page
  2. Coinbase Financial Markets, Inc. v. Raoul, complaint (N.D. Ill., filed 2025-12-18)
  3. Coinbase Financial Markets v. Raoul, Memorandum Opinion and Order (N.D. Ill., 2026-10-02)
  4. Decrypt: Coinbase rolls out Kalshi-powered prediction markets (2026-01-28)
  5. The Block: Coinbase prediction markets go live in all 50 US states via Kalshi (2026-01-28)
  6. Michigan Gaming Control Board release (2026-10-07)
  7. Covers: Court grants Nevada's preliminary injunction against Coinbase (2026-03-28)
  8. NEXTPredict: Coinbase prediction market review (2026-09-30)
  9. DeFi Rate: Coinbase predictions review (updated 2026-10-21)
  10. Connecticut Governor's release (2026-09-10)
  11. News 5 Cleveland (2026-10-16)

What we couldn't confirm: Coinbase's help center (help.coinbase.com, including /coinbase/prediction-markets/buy-sell, /trading-and-funding/prediction-markets/intro and /apply) was blocked in this session, so its own state list, age rule, KYC steps and tax documents were not read directly. Nevada exclusion rests on third-party reviews describing Coinbase's help center, plus the reported March 2026 state-court injunction. The help page itself was not opened. Tax reporting: DeFi Rate says CFM issues Form 1099-B for futures activity but that prediction-specific reporting is 'not yet documented'. No Coinbase statement on event-contract tax forms was found. Whether Coinbase stopped sports contracts in Connecticut or Ohio after the September/October 2026 orders. New York: the attorney general reportedly sued Coinbase Financial Markets in April 2026 (per the project's states dataset). Not re-opened today, and Coinbase's New York availability is unknown. Whether Coinbase routes to any DCM besides Kalshi. Michigan's release refers to contracts on 'KalshiEX and other designated contract markets'. Minimum age (18) comes from DeFi Rate and NEXTPredict, not a Coinbase page.

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