New York Attorney General Letitia James has filed lawsuits against cryptocurrency companies Coinbase Financial Markets and Gemini Titan.
The lawsuits claim that the companies' prediction market platforms violate state laws against illegal gambling. The state contends that these platforms are unregulated and unlicensed operations.
Federal and state regulators have been sparring over who has oversight of the platforms, which have surged in popularity.
New York AG sues Coinbase, Gemini over illegal gambling
New York sues Coinbase and Gemini, seeking to halt unlicensed prediction market businesses
New York Attorney General Letitia James sued exchanges Coinbase and Gemini, accusing them of operating prediction markets that violate state gambling laws.
New York sues Coinbase, Gemini Titan; calls their prediction markets illegal gambling
New York sues Coinbase and Gemini Titan, calls their prediction markets illegal gambling