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Crypto

U.S. CFTC adds New York to lawsuit to block prediction market regulation

The U.S. Commodity Futures Trading Commission has filed a lawsuit against New York state over its move to regulate prediction market operators. In a complaint filed in the U.S. District Court for the Southern District of New York, the CFTC argued that authority to regulate related derivatives, including prediction market contracts, belongs to it under federal law. New York has sued Coinbase and Gemini, citing alleged violations of state gambling law.

AI & Enterprise

New York lawmaker proposes \'AI dividend\' cash payments to citizens

Discussion of an “AI dividend” is emerging in U.S. politics as a response to job changes driven by the spread of artificial intelligence. New York state assemblyman Alex Bores unveiled a proposal to make direct cash payments to U.S. citizens if AI replaces work, funded through taxes on AI use, acquiring stakes in major AI firms and tax-system changes. He also said the money would support retraining, oversight and safety infrastructure.

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.