Coinbase Lawsuits: Litigation Tracker

Summary

Coinbase is a party to 9 cases of the 74 on this tracker, involving 8 states.

Restricted (2)

• Coinbase Financial Markets, Inc. v. Nessel

  No. 4:25-cv-14092 · No. 26-1693

  Injunction denied; on appeal (6th Cir.)6th Cir.; E.D. Mich. (Judge Kumar) belowMI

  Judge Kumar denied Coinbase Financial Markets a preliminary injunction (August 2026), completing a four-for-four sweep for Michigan across two federal districts.Checked Sep 22, 2026

• Coinbase Financial Markets, Inc. v. Tong

  No. 3:25-cv-02121 · No. 26-2297

  Injunction denied; on appeal (2d Cir.)2d Cir.; D. Conn. (Judge Oliver) belowCT

  Judge Oliver denied Coinbase a preliminary injunction (August 2026) on the same day and the same reasoning as the parallel Kalshi denial, then denied an injunction pending appeal.Checked Sep 22, 2026

Blocked for Market (1)

• Coinbase Financial Markets, Inc. v. Ford

  No. 2:26-cv-00256

  Dismissed without prejudice on abstention — no merits rulingD. Nev. (Judge Silva)NV

  Judge Silva dismissed the complaint without prejudice three days after filing (February 2026) on Younger abstention and, alternatively, the Anti-Injunction Act — expressly without reaching the merits.Checked Sep 4, 2026

Pending (6)

• Connecticut cease-and-desist orders to nine platforms (September 2026)

  Orders issued; first platform suit filedConnecticut Department of Consumer Protection — administrativeCT

  Connecticut ordered nine more platforms to stop offering sports event contracts (September 10, 2026) and issued about thirty subpoenas to vendors, app stores and media organizations.Checked Sep 22, 2026

• Mayor and City Council of Baltimore v. Kalshi

  No. C-24-CV-26-005532 · No. 1:26-cv-03217

  Filed — municipal consumer-protection actionCircuit Court for Baltimore CityMD

  Baltimore sued Kalshi and three brokerage distributors under the city’s Consumer Protection Ordinance — the first municipal action of the fight.Checked Sep 22, 2026

• People of the State of New York v. Coinbase Financial Markets, Inc.

  No. 451604/2026 · No. 1:26-cv-03300

  Removed; remand motion briefed and undecidedS.D.N.Y. (Judge Schofield); commenced in NY County Supreme CourtNY

  Coinbase removed New York’s state-court enforcement petition to federal court (April 2026); the state’s remand motion has been fully briefed since June 2026 and is undecided.Checked Sep 22, 2026

• Coinbase Financial Markets, Inc. v. Raoul

  No. 1:25-cv-15406

  Pending — injunction fully briefed since February 2026N.D. Ill. (Judge Pacold)IL

  Coinbase’s preliminary-injunction motion has been fully briefed since February 2026 and remains undecided; Judge Pacold now holds all three Illinois prediction-market cases.Checked Sep 22, 2026

• Kentucky enforcement actions v. Kalshi & others (Franklin Circuit Court)

  No. 26-CI-00689 · No. 26-CI-00696 · No. 3:26-cv-00048

  PendingFranklin Circuit Court (No. 26-CI-00689); removed to E.D. Ky.KY

  Kentucky’s AG sued Kalshi, Polymarket, and distribution partners (June 2026), plus an excise tax; the CFTC then sued the state.Checked Sep 22, 2026

• State of Wisconsin v. Kalshi, Inc.

  No. 26-CV-1284 · No. 3:26-cv-00378

  PendingWisconsin state courtWI

  Wisconsin sued Kalshi, Polymarket US and Crypto.com in three parallel actions on April 24, 2026, prompting the federal countersuit against the state.Checked Sep 4, 2026

What Changed

Logged September 22, 2026

• New caseSeptember 10, 2026

  Connecticut cease-and-desist orders to nine platforms (September 2026)

  Connecticut ordered nine more platforms — Polymarket, Coinbase, Crypto.com, Robinhood, ProphetX, Novig, Webull, Gemini and Underdog — to stop offering sports event contracts, and subpoenaed about thirty vendors, app stores and media organizations.

  Governor of Connecticut — announcement

• CorrectionSeptember 1, 2026

  Coinbase Financial Markets, Inc. v. Raoul

  Two undescribed docket entries we flagged as a possible recent order were Illinois’s motion to cite the Ninth Circuit’s Assad decision and the order allowing it. No ruling on the injunction has issued in any of the three Illinois cases.

  CourtListener — Coinbase Financial Markets v. Raoul

• CorrectionAugust 31, 2026

  Kentucky enforcement actions v. Kalshi & others (Franklin Circuit Court)

  Kentucky’s June filings were two complaints, not one: the Kalshi action (No. 26-CI-00689, Judge Shepherd) names Kalshi with its brokers Robinhood, Webull and Coinbase, and Polymarket is sued separately. Kalshi removed its case to federal court; Kentucky’s remand motion was fully briefed August 31.

  Kentucky AG — Kalshi complaint (No. 26-CI-00689)