New York sues Coinbase and Gemini, seeking to halt unlicensed prediction market businesses [Yahoo! Finance]
Coinbase Global, Inc. - Class A (COIN)
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Source: Yahoo! Finance
Attorney General Letitia James' lawsuit, filed Tuesday in state court in Manhattan, seeks to bar the companies' platforms from operating in the state unless and until they obtain licenses from the state Gaming Commission. “Gambling by another name is still gambling, and it is not exempt from regulation under our state laws and Constitution,” James said in a statement. “Gemini and Coinbase's so-called prediction markets are just illegal gambling operations, exposing young people to addictive platforms that lack the necessary guardrails.” Messages seeking comment were left for Coinbase and Gemini. Both companies began as cryptocurrency trading platforms before branching into the prediction space, which has been dominated by Kalshi and Polymarket. Gemini, founded by brothers Cameron and Tyler Winklevoss, launched Gemini Predictions in December. Coinbase started its prediction markets service in January. “Crypto was just the beginning,” Gemini's website said Tuesday, next to a pr
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News
- A New York Suit Called Prediction Markets 'Illegal' Gambling. That Hit These Crypto Stocks [Yahoo! Finance]Yahoo! Finance
- 'Think Even Bigger': Michael Saylor Drops $2.54 Billion On Bitcoin, But What Do Prediction Markets Say? [Yahoo! Finance]Yahoo! Finance
- After Google, largest U.S. crypto exchange warns of quantum threat [Yahoo! Finance]Yahoo! Finance
- Prediction Markets’ Billion Dollar Crackdown: New York Sues Coinbase And Gemini [Forbes]Forbes
- New York sues Coinbase and Gemini, seeking to halt unlicensed prediction market businesses [Yahoo! Finance Canada]Yahoo! Finance Canada
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Sec Filings
- 4/20/26 - Form 4
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- 4/10/26 - Form 8-K
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