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New York attorney general sues Coinbase and Gemini over prediction markets

Regulation

New York Attorney General Letitia James filed lawsuits against Coinbase Financial Markets and Gemini Titan in state court in Manhattan, reportedly on Tuesday. The complaints allege that the platforms operate without licences from the New York State Gaming Commission and breach state gaming laws; the companies are expected to challenge the cases.

The cases could affect whether prediction-market platforms can operate in New York under state gaming rules.

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Regulation

Texas and Georgia attorney general wins may reopen prediction-market cases

Nathan Johnson claimed victory in Texas’s attorney general race, while Tanya Miller was reported to have won in Georgia, potentially changing enforcement prospects for prediction markets. Neither has announced plans to pursue Kalshi; legal expert Daniel Wallach said the results could bring state enforcement back into consideration.

Nathan Johnson, a Democrat, claimed victory in the Texas attorney general race, and Tanya Miller was reported as the Georgia winner and the state's first woman in the post. Their wins might change how prediction markets are policed, although neither has said they plan to go after Kalshi.

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