New York Attorney General Letitia James has filed lawsuits against Coinbase and Gemini, accusing them of offering betting services on events like sports and elections through their prediction market platforms, allegedly violating state gambling laws. The lawsuits seek fines, compensation, and forfeiture of related profits. One key point of contention is that the platforms allow users aged 18 to 21 to participate, while state law requires such gambling activities to be restricted to those 21 and older. Coinbase, on the other hand, argues that prediction markets are regulated by the U.S. Commodity Futures Trading Commission (CFTC), and the dispute is now moving into the judicial process. (The Block) https://(wublock123.com)/news/ny-ag-sues-coinbase-gemini-over-predictive-markets-illegal-gambling-59924