New York lawsuit accuses Coinbase and Gemini of enabling illegal gambling
AP News
—
New York is suing Coinbase and Gemini over unregulated and unlicensed prediction market platforms that the state contends are illegal gambling operations.
Attorney General Letitia James’ lawsuit, filed Tuesday in state court in Manhattan, seeks to bar the companies’ platforms from operating in the state unless and until they obtain licenses from the state Gaming Commission.
Messages seeking comment were left for Coinbase and Gemini.
Both companies began as cryptocurrency trading platforms before branching into the prediction space, which has been dominated by Kalshi and Polymarket.
New York Sues Crypto Exchanges
- New York sues Coinbase and Gemini, seeking to halt unlicensed prediction market businesses ABC News —
- New York sues Coinbase and Gemini, seeking to halt unlicensed prediction market businesses The Independent —
- New York claims Coinbase, Gemini prediction markets violate gambling laws The Hill —
- New York Attorney General sues two prediction markets on illegal gambling allegations Engadget —
- New York sues Coinbase, Gemini Titan; calls their prediction markets illegal gambling - Reuters Reuters —