Updated: 21.04.2026
- The New York Attorney General has filed a lawsuit against Coinbase Financial Markets and Gemini Titan, accusing them of violating state executive and administrative laws.
- The state is demanding at least $2,2 billion from Coinbase, and Gemini – $ 1,2 billion
New York State Attorney General Letitia James has filed a lawsuit against crypto exchanges Coinbase and Gemini for illegally offering people the opportunity to bet on sporting events and elections.
In his statement James said both companies violated New York laws by using their prediction platforms and now face fines, damages, and forfeiture of profits that state authorities say are illegal.
Gambling by any other name is still gambling, and it is not exempt from regulation under our state laws and the Constitution. So-called prediction markets Gemini and Coinbase are simply illegal gambling that are driving young people into addiction to platforms that do not have the necessary restrictions, said Attorney General of New York.
Authorities were particularly outraged that the platforms allowed gambling to be conducted by people between the ages of 18 and 21, even though New York State law requires that mobile sports betting be conducted at least 21 years of age.
According to court documents, the state is seeking at least $2,2 billion from Coinbase and Gemini – $ 1,2 billion
Ранее Happy Coin News WroteCoinbase has entered into an agreement to acquire startup The Clearing Company to strengthen its presence in the forecast-based market.
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