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Prediction Markets Lawsuit
Description
New York Attorney General Letitia James sued Coinbase and Gemini Titan in Manhattan state court, alleging their prediction markets violate state gambling laws. James said the companies failed to obtain NY Gaming Commission licenses and described event contracts as gambling since outcomes are outside bettors' control. She seeks illegal profits, triple civil fines, restitution, and limits on under-21 wagers. Coinbase said it will push for federal oversight.