[Federal Court in Michigan Rejects Coinbase's Injunction Request, Refuses to Block State-Level Regulation of Sports Event Contracts] According to The Block, Judge Shalina Kumar of the U.S. District Court in Michigan has denied Coinbase's request for a preliminary injunction. Coinbase argued that under the Commodity Exchange Act (CEA), sports event contracts should fall under the exclusive federal jurisdiction of the U.S. Commodity Futures Trading Commission (CFTC), and Michigan's gambling regulations should not interfere. The judge ruled that Coinbase failed to demonstrate that sports event contracts qualify as swap instruments under the CEA, noting that compliance with both federal and state laws is not impossible, and that high costs alone do not justify exemption. The judge described Coinbase's argument as 'applesauce.'