New York Attorney General sues two prediction markets on illegal gambling allegations
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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. "Gambling by another name is still gambling, and it is not exempt from regulation under our state laws and Constitution," James
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