A New York Suit Called Prediction Markets 'Illegal' Gambling. That Hit These Crypto Stocks [Yahoo! Finance]
Coinbase Global, Inc. - Class A (COIN)
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Source: Yahoo! Finance
New York Attorney General Letitia James sued Coinbase and Gemini, alleging their prediction market platforms were "illegal gambling platforms." Shares of Coinbase were down more than 7% on Tuesday while Gemini's were down more than 3%. Some crypto firms' shares fell after the companies found themselves in the government's crosshairs, intensifying the legal argument about whether prediction markets amount to gambling platforms. New York State Attorney General Letitia James on Tuesday filed lawsuits against crypto exchanges Coinbase Global ( COIN ) and Gemini ( GEMI ) in the state's Supreme Court. The suits, which echo other state-level efforts elsewhere in the U.S., allege that the companies are "illegally" running gambling operations in the state through their respective prediction market platforms, which offer event contracts on everything from sports to mid-term elections. Shares of Coinbase and Gemini finished the day down more than 7% and 3%, respectively. Robinhood ( HOO
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News
- Why Coinbase (COIN) Shares Are Plunging Today [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
COIN
Earnings
- 2/12/26 - Beat
COIN
Sec Filings
- 4/20/26 - Form 4
- 4/16/26 - Form 144
- 4/10/26 - Form 8-K
- COIN's page on the SEC website