Coinbase Chief Legal Officer Paul Grewal stated on the X platform that the U.S. Congress has granted the Commodity Futures Trading Commission (CFTC) exclusive jurisdiction over the launch of related prediction market contracts. The latest news is that a hearing in the Nevada federal court has been scheduled for next week, and he also expressed gratitude for the handling of the matter by the relevant court.

Paul Grewal previously stated that Nevada regulators attempted to unilaterally prevent the launch of any prediction market event contracts without giving Coinbase an opportunity to defend itself, while due process should at least include the opportunity for a hearing.