Coinbase CLO: Former US Deputy Attorney General submits' masterpiece level 'supporting documents for Kalshi lawsuit According to a report by Golden Finance, Paul Grewal, Chief Legal Officer of Coinbase, stated in a post that Prelogar, former US Deputy Attorney General representing the Coalition for Prediction Markets, has submitted a friend of the court opinion in support of Kalshi to the US Sixth Circuit Court of Appeals, calling it a "masterpiece". Paul Grewal pointed out that the document not only outlines the historical background of the US Commodity Futures Trading Commission's exclusive regulatory authority over the forecasting market, but also proposes three key points: 1. Predicting the market can uniquely aggregate market information and transform it into simple price signals, which are aggregated by market participants together. 2. Predicting market users to trade based on prices that market participants are willing to accept, they have no control over contract prices and bear the legal obligation to provide users with fair access to contracts. 3. The laws of various states in the US stock market are not suitable for regulating the prediction market, as their core objectives are not to maintain a fair market, price discovery, information aggregation, risk hedging, or prevent market manipulation.