Allegations of unlicensed gambling operations linked to prediction market platforms involving Coinbase and political figures.
3 reports, 3 independent
Updated May 28
Gone quiet
Reached 3 outlets in its first 24 hours
- Reports
- 3
- Developments
- 7
- Repetition
- 0%
New informationRepeats or wire copies
AI-generated analysis. Brind wrote this summary from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
What happened
Allegations of unlicensed gambling operations linked to prediction market platforms involving Coinbase and political figures.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Prediction market platforms Polymarket and Kalshi are facing lawsuits and accusations of running illegal gambling operations.Sub-event
- Chicago leaders propose an ordinance to regulate insider betting markets, targeting market use.Sub-event
- Indonesia blocked access to Polymarket due to online gambling laws, targeting bets on Prabowo Subianto's presidential tenure.Sub-event
- A lawsuit was filed in New York regarding prediction market platform activities, involving market oversight criticism from Donald Trump and entities like Coinbase and Gemini.Sub-event
Prediction markets face scrutiny over unlicensed gambling operations and need federal oversight.1 source
State authorities in AZ, MN, IL, and NY sue markets for unlicensed gambling operations.1 source
NY AG sued over prediction markets; Trump supports market growth vs. state regulation.1 source
Keep exploring
The entities involved
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Polymarket
online prediction solicitation and aggregation engine
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Bitcoin
digital cash system and associated currency
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Coinbase
American company that operates a cryptocurrency exchange platform
Related events
- Police are investigating illegal gambling platform operations, while regulators launch a pilot for new market infrastructure.
- Prediction market Polymarket faces court action, inquiries into digital asset sales, and cease orders involving entities in Nevada, Florida, and Connecticut.
- Warnings about U.S. market access due to tariffs are affecting business operations, integrating Bitcoin into a wealth-building strategy.
- Trump's administration, advised by Kevin Hassett, was involved in policy changes regarding digital assets and held vested shares in Coinbase.
- The crypto market is experiencing a rally, boosting related stocks as major firms like BlackRock remain involved in Bitcoin funds under SEC oversight.