Source: Yahoo! Finance
“New York’s attorney general sued Coinbase Financial Markets and Gemini Titan on Tuesday, claiming their prediction markets violate state laws against illegal gambling. In complaints filed in a state court in Manhattan, Attorney General Letitia James said Coinbase and Gemini failed to obtain New York State Gaming Commission licenses to operate their markets, where people trade based on the predicted outcomes of events such as sports and elections. James said Coinbase’s and Gemini’s so-called event contracts are ‘quintessentially gambling’ because event outcomes are outside bettors’ control or amount to games of chance. She also objected to Coinbase and Gemini letting 18- to 20-year-olds use their platforms, despite a state law setting a minimum age of 21 for mobile sports betting.” (04/21/26)