Coinbase Suspends Michigan Sports Betting Amid Ongoing Appeals

WHO:

Bitcoinist - Coinbase Financial Markets is involved in the suspension of sports-related event contracts.

ReadWrite - Michigan regulators are involved in the agreement with Coinbase.

WHAT:

Bitcoinist - Coinbase will stop offering new sports-related event contracts to Michigan customers.

Bitcoinist - Coinbase will close remaining open positions by October 10.

ReadWrite - Michigan sports contracts will close by midnight Saturday.

WHERE:

Bitcoinist - The actions are taking place in Michigan.

WHEN:

Bitcoinist - The deadline for stopping new contracts and closing open positions is October 10.

WHY:

Bitcoinist - Michigan agreed not to pursue enforcement while Coinbase complies with the agreement.

Bitcoinist - The wider legal fight over whether states can regulate federally registered event contracts remains unresolved.

HOW:

ReadWrite - The closure of contracts is part of a deal with regulators while the legal dispute continues in court.

(UPDATED October 8, 2026 17:13 UTC)

Coinbase Financial Markets is suspending sports-related event contracts for Michigan customers, as part of an agreement with state regulators. The company will stop offering new contracts and close all remaining open positions by October 10, with Michigan sports contracts set to close by midnight on Saturday. This action comes as part of a deal allowing Coinbase to comply with regulatory requirements while the broader legal battle over state regulation of federally registered event contracts remains unresolved.