Press Coverage March 27, 2026

Detroit Set to Enter Michigan’s Battle Against Coinbase Prediction Markets

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Stephen C. Piepgrass

Stephen Piepgrass, leader of Troutman Pepper Locke’s Regulatory Investigations, Strategy + Enforcement Practice Group, was quoted in the March 27, 2026 Cointelegraph article, “Detroit Set to Enter Michigan’s Battle Against Coinbase Prediction Markets.”

  • Where will the chips fall for platforms dealing with state and federal authorities?
  • “The more the CFTC can do in this space [prediction markets] to put a comprehensive regulatory regime around it, the more likely it is for courts who are looking at the issue to say ‘actually, yes, this is a CFTC jurisdiction issue — this really is not just an end run around sports gambling bans in particular states,'” Stephen Piepgrass, a partner at international law firm Troutman Pepper Locke, told Cointelegraph.
  • According to Piepgrass, the cases could ultimately end up going back to the US Supreme Court, given its 2018 decision in Murphy v. National Collegiate Athletic Association. That case gave US states the authority to regulate sports gambling, striking down a federal law that attempted to impose a ban on such activities.

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