Coinbase’s head of litigation says states are 'gaslighting' on prediction markets

Why it matters: Ryan VanGrack, Coinbase’s VP of legal and global head of litigation, is sharpening Coinbase’s challenge to state regulators, saying they are trying to rewrite Congress’ authority over derivatives.

The argument: VanGrack says states are framing the issue incorrectly.

Federal vs. state power: At the center is who gets to regulate sports-related event contracts.

Sports betting distinction: Coinbase says exchange-traded contracts differ fundamentally from sportsbook wagers.

Bigger stakes: The dispute mirrors broader crypto fights over fragmented oversight.

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McHenry predicts fast crypto deal as Witt brokers talks

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