CoinDesk Podcast Network Coinbase Litigation Head Challenges State "Gaslighting" Over Prediction Markets
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Feb 26, 2026 
Ryan VanGrack, Coinbase’s VP of Legal and Global Head of Litigation, who oversees the company’s litigation and regulatory strategy. He explains why Coinbase sued several states and argues for federal oversight of prediction markets. He contrasts prediction markets with sportsbooks. He defends the CFTC’s role and expresses cautious optimism about bipartisan market-structure legislation.
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Sue To Prevent Imminent State Shutdowns
- Protect customer access by legally challenging state actions when threats like cease-and-desist letters are imminent.
- VanGrack says Coinbase sued in certain states to remove the legal Damocles and preserve access to prediction markets for users.
Federal Jurisdiction Over Prediction Markets
- Congress assigned exclusive jurisdiction over event-contract derivatives to the CFTC, so prediction markets belong under federal oversight.
- Ryan VanGrack points to the statute and the CFTC's special-rule authority over gaming event contracts as proof states cannot unilaterally reclaim that power.
Start Jurisdiction Debates With The Statute
- Read the statute and regulatory text first when assessing jurisdictional disputes over event contracts.
- VanGrack points to the CEA's text and the CFTC's 'special rule' as the decisive legal basis in these cases.