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Coinbase, Gemini sued by New York for alleged gambling platforms

( April 21, 2026, 21:25 GMT | Official Statement) -- MLex Summary: Coinbase Financial Markets and Gemini, Titan LLC have been sued by the New York attorney general for allegedly running illegal gambling operations in through their “prediction market” platforms. Both Coinbase and Gemini offer users the ability to bet on events, including sports, entertainment and elections, in violation of New York laws. “Gambling by another name is still gambling, and it is not exempt from regulation under our state laws and Constitution,” Attorney General Letitia James said. “Gemini and Coinbase’s so-called prediction markets are just illegal gambling operations, exposing young people to addictive platforms that lack the necessary guardrails.” The AG is seeking court orders requiring Coinbase and Gemini to pay fines, forfeit profits, and pay restitution to customers.Statement follows in full. Also see attached file. ...

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