New York Attorney General Letitia James filed lawsuits against Coinbase Financial Markets and Gemini Titan in Manhattan state court. The complaints allege the companies operate illegal gambling platforms without New York State Gaming Commission licenses.
The platforms offer event contracts allowing users to wager on sports and election outcomes. Attorney General James seeks to halt operations, recover illegal profits, and impose civil fines.
The lawsuits further allege that both companies permitted users under the legal betting age of 21 to participate.