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New York Sues Coinbase Over Prediction Markets, COIN Stock Falls 7%

New York Sues Coinbase Over Prediction Markets, COIN Stock Falls 7%

New York Attorney General Letitia James sued Coinbase on April 21, alleging its prediction markets violate state law. The lawsuit caused Coinbase’s stock (COIN) to drop 7%. This legal action marks a broader crackdown on prediction markets, which authorities claim operate as illegal gambling. Coinbase has not yet responded to the allegations.

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