New York Sues Coinbase, Gemini Over Prediction Markets

New York State Attorney General Letitia James hosts a town hall at SUNY Westchester Community College in Valhalla, New York, on May 8, 2025. Spencer Platt/Getty ImagesNew York Attorney General Letitia James sued Coinbase Financial Markets and Gemini Titan on April 21, accusing them of running prediction markets in violation of state gambling laws.In the petitions, James said that Coinbase and Gemini failed to obtain the gambling licenses required for their “event contract” platforms, which allow users to wager on the outcomes of real-world events ranging from weather to sports to elections.