New York Sues Coinbase and Gemini: What We Know So Far
BeInCrypto
New York has sued Coinbase and Gemini over alleged violations of state gambling laws regarding their prediction market subsidiaries.Summary
New York has initiated legal action against Coinbase Financial Markets and Gemini Titan, alleging that their prediction market operations violate state gambling statutes. This enforcement follows a February warning from Attorney General Letitia James regarding the promotion of unlicensed wagering. While these platforms operate under federal licenses from the Commodity Futures Trading Commission (CFTC), the state's move highlights an intensifying jurisdictional conflict between state gambling regulators and federal authorities. With federal courts providing conflicting rulings on state authority over such markets, this dispute is increasingly likely to reach the Supreme Court.
(Source：BeInCrypto)