TLDR Tech / Crypto
NY AG Sues Coinbase and Gemini Over Prediction Markets
New York Attorney General Letitia James filed suits against Coinbase Financial Markets and Gemini Titan on April 21, alleging both platforms operated prediction markets without licenses from the New York State Gaming Commission in violation of state gambling statutes. The AG's office frames prediction market products as gambling under existing state law and the New York Constitution, bypassing any argument that crypto-native structuring exempts them from gaming regulation. The suits seek disgorgement of profits, restitution to users, and a prohibition on offering prediction products to anyone under 21.
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