Search results for Letitia James
Crypto
Trump says prediction markets fall under CFTC jurisdiction, vows to defend U.S. crypto capital status
U.S. President Donald Trump publicly backed maintaining the Commodity Futures Trading Commission\'s exclusive authority to regulate prediction markets, calling such oversight essential. He also reiterated a stance of protecting the crypto industry, describing the United States as the global capital of cryptocurrencies including bitcoin. The comments come as disputes between federal and state authorities over prediction markets have escalated into lawsuits, with states arguing sports-related betting should be governed by state gambling laws.
Crypto
New York state sues Coinbase, Gemini over alleged unlicensed prediction markets
New York state filed a lawsuit against cryptocurrency exchanges Coinbase and Gemini over prediction-market contracts. The state alleges the products, tied to sports, entertainment and elections, are unlicensed gambling that violates state law. Attorney General Letitia James said renaming gambling does not change its nature and cannot evade regulation. The complaint says the services functioned like bookmakers and allowed participation by users under 21.
Crypto
U.S. CFTC eases rules on political, sports prediction markets; state enforcement tightens
The U.S. Commodity Futures Trading Commission has eased its approach to prediction markets on political and sports outcomes. Chair Michael Selik said the agency will withdraw a Biden-era prohibition on political and sports contracts and revoke a related 2025 regulatory alert. He said the CFTC will pursue responsible innovation and regulatory clarity and develop guidance based on the Commodity Exchange Act. State-level enforcement is tightening, including actions in New York, Nevada and Connecticut.
