{"id":1895660,"date":"2026-04-21T19:20:12","date_gmt":"2026-04-21T16:20:12","guid":{"rendered":"https:\/\/analyse.optim.biz\/?p=1895660"},"modified":"2026-04-21T19:20:12","modified_gmt":"2026-04-21T16:20:12","slug":"new-york-attorney-general-sues-two-prediction-markets-on-illegal-gambling-allegations","status":"publish","type":"post","link":"https:\/\/analyse.optim.biz\/?p=1895660","title":{"rendered":"New York Attorney General sues two prediction markets on illegal gambling allegations"},"content":{"rendered":"<p>[analyse_image type=&#8221;featured&#8221; src=&#8221;https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/JwnwFyGQPrO8nQMFG67ztA&#8211;\/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04MDA-\/https:\/\/d29szjachogqwa.cloudfront.net\/images\/2026-04\/a6d3e828-847a-49fc-ac88-279f2dc96a14&#8243;]<\/p>\n<article id=\"article-8aceee78-85cf-4ce0-ac12-125fda6be1c3\">\n<div>\n<div class=\"mx-auto md:px-10 md:max-w-[1220px]\">\n<nav class=\"prestige-breadcrumb relative mx-4 md:mx-0\" aria-label=\"breadcrumbs\">\n<ol class=\"no-scrollbar overflow-scroll whitespace-nowrap text-battleship\">\n<li class=\"inline\">\n<li class=\"inline-block cursor-default last:pr-10 md:last:pr-20 font-bold\">Big tech<\/li>\n<\/ol>\n<\/nav>\n<header class=\"mb-4 px-4 md:mb-6 md:px-0\">\n<h1 class=\"layout-h1 my-2 font-bold leading-tight\">New York Attorney General sues two prediction markets on illegal gambling allegations<\/h1>\n<h2 class=\"my-2 text-[18px] font-light leading-5 md:max-w-[660px] md:text-[20px]\/[28px]\">Coinbase Financial Markets and Gemini Titan are the latest to face a state lawsuit.<\/h2>\n<div class=\"flex-col items-start lg:flex lg:flex-row lg:items-center lg:justify-between mt-6\">\n<div class=\"relative md:mr-[10px]\">\n<div class=\"flex items-center\">\n<div class=\"flex mr-2\">\n<div class=\"shrink-0 cursor-pointer inline-block size-[42px] lg:size-[48px]\"><img decoding=\"async\" alt role=\"img\" loading=\"lazy\" class=\"size-full rounded-full object-cover object-center shadow-[0_0_0_2px_#ffffff]\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/VQiGSN1Kr.pEc_y40zHKDA--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTgwO2g9ODA-\/https:\/\/o.aolcdn.com\/images\/dims?image_uri=https%3A%2F%2Fs.yimg.com%2Fos%2Fcreatr-uploaded-images%2F2024-06%2Ff9447100-276f-11ef-beff-781390795172&amp;compress=1&amp;progressive=1&amp;quality=75&amp;client=hawkeye&amp;signature=0128787f6360c6f24bdf06c689658bb57c9760a1\"><\/div>\n<\/div>\n<div class=\"inline-block\">\n<div class=\"w-max text-sm\/5 font-semibold lg:!flex flex items-center\">\n<div class=\"flex flex-col\">\n<div class=\"flex w-max items-center\">Anna Washenko<\/div>\n<p><span class=\"font-normal sm:before:inline-block\">Contributing Reporter<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"lg:hidden\">\n<div class=\"text-xs text-dolphin dark:text-shark md:text-sm\/5 pt-4\">\n<div class=\"inline-block\"><time datetime=\"2026-04-21T19:20:12.000Z\">Tue, April 21, 2026 at 7:20 PM UTC<\/time><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ml-0 mt-4 flex items-center lg:ml-3 lg:mt-0\">\n<div class=\"ml-0 mr-2\">\n<div class=\"relative flex\">Add Engadget on Google<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"hidden lg:block\">\n<div class=\"text-xs text-dolphin dark:text-shark md:text-sm\/5 pt-4\">\n<div class=\"inline-block\"><time datetime=\"2026-04-21T19:20:12.000Z\">Tue, April 21, 2026 at 7:20 PM UTC<\/time><\/div>\n<\/div>\n<\/div>\n<\/header>\n<\/div>\n<div class=\"grid grid-cols-1 gap-x-8 lg:gap-x-0 mx-auto md:px-10 md:max-w-[1220px] md:grid-cols-[[main-start]_1fr_[main-end_right-start]_min-content_[right-end]] lg:!gap-x-8\">\n<div class=\"md:col-main\" data-i13n-boundary=\"true\">\n<div>\n<div>\n<div class=\"grid grid-cols-[[fullbleed-start_body-start]_minmax(auto,750px)_[body-end_fullbleed-end]]\">\n<figure class=\"relative col-body mb-4\">\n<div class=\"relative overflow-hidden fig-image-round left-1\/2 w-screen -translate-x-1\/2 md:left-0 md:w-auto md:translate-x-0\"><img decoding=\"async\" alt class=\"object-cover object-center\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/OG35ZlG_IosLGkoD9Axybg--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyNDI7aD04Mjg-\/https:\/\/s.yimg.com\/uu\/api\/res\/1.2\/a4flV6U48dF67cCr_pEBGg--~B\/aD0yOTQ1O3c9NDQxODthcHBpZD15dGFjaHlvbg--\/https:\/\/d29szjachogqwa.cloudfront.net\/images\/2026-04\/a6d3e828-847a-49fc-ac88-279f2dc96a14\"><\/div><figcaption class=\"relative text-[0.875rem]\/[1.25rem] figure-caption mt-1 line-clamp-2 mt-2.5 md:mt-2 pr-2.5\">\n<div><span class=\"[&amp;_p]:inline\"><\/p>\n<p>New York Attorney General Letitia James<\/p>\n<p><\/span><span> (REUTERS \/ REUTERS)<\/span><\/div>\n<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<div class=\"grid grid-cols-article-mobile md:grid-cols-article lg:max-w-[750px] drop-cap\" data-article-body=\"true\">\n<p class=\"col-body mb-4 leading-7 text-[18px] md:leading-8 break-words min-w-0 charcoal-color\">New York is the latest state to take a stand against prediction markets. Attorney General Letitia James has sued Coinbase Financial Markets and Gemini Titan on charges that both are illegally running unlicensed gambling operations. The suit also claims that these prediction markets violate state laws that prevent betting on games involving New York college sports teams.<\/p>\n<p class=\"col-body mb-4 leading-7 text-[18px] md:leading-8 break-words min-w-0 charcoal-color\">&#8220;Gambling by another name is still gambling, and it is not exempt from regulation under our state laws and Constitution,&#8221; James said. &#8220;Gemini and Coinbase\u2019s so-called prediction markets are just illegal gambling operations, exposing young people to addictive platforms that lack the necessary guardrails.&#8221;<\/p>\n<p class=\"col-body mb-4 leading-7 text-[18px] md:leading-8 break-words min-w-0 charcoal-color\">Multiple states have taken similar actions over the proliferation of prediction markets, but they may face a new roadblock at the federal level. Earlier this month, the US Commodity Futures Trading Commission sued three of the states that have charged prediction markets with running unlicensed gambling. The CFTC claimed that it should be the sole regulator for prediction markets and called the efforts by Arizona, Connecticut and Illinois an overreach of authority.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"md:col-main grid grid-cols-article-mobile md:grid-cols-article lg:max-w-[750px]\">\n<div class=\"no-scrollbar col-body mx-4 mb-8 mt-2.5 overflow-x-scroll whitespace-nowrap md:mx-0 md:max-w-[750px] md:overflow-x-visible md:hidden\">\n<div class=\"mx-auto max-w-screen-sm\">\n<ul class=\"inline-flex text-xs md:text-sm\">\n<li class=\"mr-6\">About our ads<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<div class=\"grid grid-cols-article-mobile md:grid-cols-article lg:max-w-[750px] drop-cap\" data-article-body=\"true\">\n<p class=\"col-body mb-4 leading-7 text-[18px] md:leading-8 break-words min-w-0 charcoal-color\">New York is the latest state to take a stand against prediction markets. Attorney General Letitia James has sued Coinbase Financial Markets and Gemini Titan on charges that both are illegally running unlicensed gambling operations. The suit also claims that these prediction markets violate state laws that prevent betting on games involving New York college sports teams.<\/p>\n<p class=\"col-body mb-4 leading-7 text-[18px] md:leading-8 break-words min-w-0 charcoal-color\">&#8220;Gambling by another name is still gambling, and it is not exempt from regulation under our state laws and Constitution,&#8221; James said. &#8220;Gemini and Coinbase\u2019s so-called prediction markets are just illegal gambling operations, exposing young people to addictive platforms that lack the necessary guardrails.&#8221;<\/p>\n<p class=\"col-body mb-4 leading-7 text-[18px] md:leading-8 break-words min-w-0 charcoal-color\">Multiple states have taken similar actions over the proliferation of prediction markets, but they may face a new roadblock at the federal level. Earlier this month, the US Commodity Futures Trading Commission sued three of the states that have charged prediction markets with running unlicensed gambling. The CFTC claimed that it should be the sole regulator for prediction markets and called the efforts by Arizona, Connecticut and Illinois an overreach of authority.<\/p>\n<\/div>\n<p>[analyse_source url=&#8221;https:\/\/www.engadget.com\/big-tech\/new-york-attorney-general-sues-two-prediction-markets-on-illegal-gambling-allegations-192012225.html&#8221;]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[analyse_image type=&#8221;featured&#8221; src=&#8221;https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/JwnwFyGQPrO8nQMFG67ztA&#8211;\/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04MDA-\/https:\/\/d29szjachogqwa.cloudfront.net\/images\/2026-04\/a6d3e828-847a-49fc-ac88-279f2dc96a14&#8243;] Big tech New York Attorney General sues two prediction markets on illegal gambling allegations Coinbase Financial Markets and Gemini Titan are the latest to face a state lawsuit. Anna Washenko Contributing Reporter Tue, April 21, 2026 at 7:20 PM UTC Add Engadget on Google Tue, April 21, 2026 at 7:20 PM UTC [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[226,63],"class_list":["post-1895660","post","type-post","status-publish","format-standard","hentry","category-politics","tag-crawlmanager","tag-engadget-com"],"_links":{"self":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/1895660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1895660"}],"version-history":[{"count":0,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/1895660\/revisions"}],"wp:attachment":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1895660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1895660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1895660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}