New York sues prediction market platform Kalshi alleging 'illegal gambling operation' New York officials sued prediction market platform Kalshi on Friday, calling it an "illegal, unlicensed gambling operation" as the state seeks to halt its operations and force the company to forfeit its profits. BDN To continue reading... SUBSCRIBE TODAY Rugged coastlines, working harbors, and towns where everyone knows your name. We tell the local stories that keep you connected to the people, places, and traditions that make this state different and worth protecting. Complete Digital Access + Home Delivery As low as $32.72 per month Complete Digital Access $1/per week for the first 4 weeks Stay connected to Maine with the Bangor Daily News New York joins a growing number of states filing lawsuits against Kalshi and other companies in a dispute with President Donald Trump's administration over who regulates the fast-growing prediction market. Kalshi and other platforms argue they are federally licensed and regulated, and states have no authority to govern them. "It's sad to see this type of political theater from the leadership in our own state," Elisabeth Diana, a spokesperson for New York-based Kalshi, said in a statement. "States can't just shut down a federally licensed exchange. This would also hurt New Yorkers, who would be driven offshore. We love New York, we love New Yorkers, and New Yorkers love our product." New York Gov. Kathy Hochul and Attorney General Letitia James, both Democrats, announced the lawsuit filed in state Supreme Court in Manhattan. "New York's gambling laws protect children from underage betting and help combat gambling addiction," James said in a statement. "No matter what they call themselves, prediction markets like Kalshi are gambling platforms, plain and simple. By ignoring our laws, Kalshi is running an illegal operation and harming New Yorkers in the process." James' office is requesting that Kalshi be ordered to forfeit all illegal gains, pay restitution to consumers who were harmed and pay fines equal to three times the company's gains. Kalshi had been in negotiations with New York officials in recent weeks over tax and consumer protection issues. In April, New York filed lawsuit a similar against prediction market platforms Coinbase and Gemini on illegal gambling operation allegations. State officials say the prediction markets meet the legal definition of gambling "because the outcomes of the events on which its users are betting are uncertain and outside the control of the bettor or hinge on a game of chance." New York claims Kalshi has failed to obtain a license from the state Gaming Commission and skirted its obligation to pay taxes like licensed casinos and mobile sports gambling platforms do. The lawsuit also says prediction markets allow users ages 18 to 20, while New York requires mobile sports betting users to be at least 21. Prediction market platforms say they operate differently than gambling operations, because consumers are trading against other consumers - much like how stock markets work. Prices are based on trading, and the platforms only take a fee from the trading, they say. The platforms also argue federal law gives the U.S. Commodity Futures Trading Commission exclusive jurisdiction to regulate transactions offered in the prediction market. In February, Trump's appointee atop the federal commission declared that the agency "will no longer sit idly by" while states aim to regulate or ban prediction markets and "undermine the agency's exclusive jurisdiction." States counter that the vast majority of the business on prediction market platforms is sports betting, which they are empowered to regulate, and that is completely different from the commodities and futures contracts that the commission regulates. On Monday, a federal judge blocked temporarily Minnesota's first-in-the-nation law banning prediction markets just days before it was to take effect - dealing a setback for states trying to outlaw or regulate the platforms. A tangle of lawsuits is growing, as states try to use their gambling laws to shut down Kalshi, Polymarket and other prediction market operators. In April alone, the sued government federal Connecticut, Arizona and Illinois, challenging their efforts to regulate the industry.

Gemini launches commission-free stock trading for US users July 7, 2026. 2026-07-30 13:44:06 Key Takeaways * Gemini launches commission-free stock trading for eligible US users on July 7, 2026. * Nasdaq provides real-time market data while Apex Clearing Corporation handles clearing and custody infrastructure. * Stock trading feature excludes Alabama, Arkansas, Illinois, Massachusetts, Texas, Puerto Rico, Washington D.C., and Guam at launch. Gemini, the crypto exchange co-founded by Cameron and Tyler Winklevoss, is launching commission-free stock trading for eligible US users on July 7, 2026. The feature allows users to buy and sell US exchange-listed equities alongside crypto holdings in a single account. Cameron Winklevoss stated the platform aims to let users manage their entire financial lives in one place, marking a pivot from Gemini's original digital-asset-only identity into competition with traditional brokerages and multi-asset platforms. Gemini partners with Nasdaq and Apex Clearing for stock trading infrastructure. The stock trading feature is built on two partnerships. Nasdaq is supplying real-time market data, providing users with live quotes rather than delayed feeds. Apex Clearing Corporation is handling clearing and custody, the back-office infrastructure that legally holds shares and processes trades. Tyler Winklevoss described a vision for a platform that includes equities, digital assets, derivatives, and other financial products under a single regulated roof. Stock trading feature excludes eight US jurisdictions at launch. The July 7, 2026 rollout will not be available in Alabama, Arkansas, Illinois, Massachusetts, Texas, Puerto Rico, Washington D.C., and Guam. Users in these jurisdictions will not have access to the commission-free stock trading feature at launch. Gemini competes with Robinhood in multi-asset platform space. Gemini's entry into stock trading places it in direct competition with Robinhood, which has been adding crypto features to its equities-focused platform. Both companies are converging on multi-asset offerings from different starting points - Gemini from crypto, Robinhood from stocks. The move also positions Gemini against Coinbase, Fidelity, and other brokerages targeting retail investors. Faq. When does Gemini launch commission-free stock trading? Gemini launches commission-free stock trading for eligible US users on July 7, 2026. Which US jurisdictions cannot access Gemini's stock trading feature at launch? Users in Alabama, Arkansas, Illinois, Massachusetts, Texas, Puerto Rico, Washington D.C., and Guam will not have access to the commission-free stock trading feature at launch. Who provides the infrastructure for Gemini's stock trading feature? Nasdaq supplies real-time market data, and Apex Clearing Corporation handles clearing and custody for the stock trading feature. Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

Coinbase, Bybit, Circle, and Gemini ranked among the leading digital asset Fintechs in 2026. July 26, 2026 Cryptopolitan general Positive Coinbase (NASDAQ: COIN), Bybit, Circle (NYSE: CRCL), and Gemini have all secured top positions on CNBC and Statista's prestigious 2026 ranking of the world's 500 leading global Fintech companies, cementing crypto-native firms as dominant forces in the broader financial technology landscape. Coinbase, classified under the decentralized finance category, marks a repeat appearance on the list, reinforcing the exchange's standing as the benchmark publicly traded crypto company following its strong COIN stock performance in recent quarters. Circle, whose CRCL shares debuted publicly earlier this year, earns its place largely on the strength of USDC stablecoin adoption, which now facilitates hundreds of billions in on-chain transaction volume annually. Investors researching top crypto fintech companies 2026, Coinbase stock outlook, and best regulated crypto exchanges will find this ranking significant because it validates institutional-grade credibility for platforms increasingly competing with legacy banks and payment processors. Bybit's inclusion is particularly notable given ongoing regulatory scrutiny in several jurisdictions, while Gemini's appearance signals the Winklevoss-founded exchange's successful rehabilitation following earlier regulatory challenges in the U.S. The CNBC-Statista list carries weight with traditional finance allocators who use such rankings to evaluate partnership and investment decisions. Watch whether this recognition accelerates institutional custody agreements, ETF product expansions, or cross-border licensing deals for these four crypto leaders throughout the remainder of 2026. Coinbase (NASDAQ: COIN), Bybit, Circle (NYSE: CRCL), and Gemini lead the names on CNBC and Statista's 2026 ranking of 500 global Fintechs. Coinbase, listed as decentralized, returned after appearing in an earlier edition.