New York targets Coinbase, Gemini in fresh crackdown on prediction markets

Burns Brief

Attorney General Letitia James alleged that Coinbase and Gemini ran unlicensed markets, adding pressure on crypto companies as states move to regulate event-based trading platforms Market participants are carefully weighing the implications, with the outcome likely to depend on broader macro conditions and volume. Watch for volume confirmation — a breakout above average volume would signal the trend is likely to continue.