The US city is expected to pen an amicus brief in Coinbase's lawsuit against the state of Michigan, which the exchange filed ahead of its prediction markets launch.
Lawyers representing the US city of Detroit plan to file an amicus brief in Coinbase's lawsuit against Michigan, which argues that federal regulators should have authority in overseeing prediction markets and not states.
In a Thursday filing in the US District Court for the Eastern District of Michigan related to state officials’ motion for a preliminary injunction, District Judge Shalina Kumar approved an order which will allow Detroit to file a brief supporting state authorities in their lawsuit against Coinbase. Kumar gave Detroit’s lawyers until April 3 to make the filing as the lawsuit continues.
In December, Coinbase filed its lawsuit against Michigan, as well as gaming authorities in Connecticut and Illinois, more than a month before the crypto exchange announced the launch of its prediction market services on the platform.
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