New York Attorney General Sues Coinbase and Gemini, Classifies Prediction Markets as Illegal Gambling Operations

Cryptocurrency

Lawsuits

Markets

21st April 2026

New Lawsuits: NY Attorney General Letitia James has filed parallel lawsuits against Coinbase and Gemini, alleging the exchanges’ prediction market products amount to unlicensed gambling under state law. The near-identical complaints target their sports-based markets for "offering what is quintessentially wagering under the guise of 'event contracts' on a 'prediction market.'"

Author

Jack Inabinet

Source

finance.yahoo.com

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