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FredBrown
FredBrown
April 22, 2026

New York Attorney General Letitia James sues Coinbase and Gemini, accusing them of operating illegal prediction markets that allowed underage betting and violated state gambling laws. The state seeks fines equal to three times the companies' New York profits, alleging tax evasion and unfair competition. Coinbase shares fell over 7% following the lawsuit.

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