New York attorney general sues Coinbase and Gemini over prediction markets
New York Attorney General Letitia James sued Coinbase Financial Markets and Gemini Titan, alleging that their event-based prediction contracts constitute unlicensed gambling under state law. Her office says the platforms allowed users aged 18 to 20 to participate and is seeking recovered gains, financial penalties, user compensation and restrictions, including limits on access for under-21s.
The lawsuits challenge whether prediction-market operators must meet New York gambling licensing and age-control requirements.