New York Attorney General Letitia James has sued two crypto companies, Coinbase and Gemini, alleging they violate state gambling laws through their prediction markets. James argues that these platforms fall within the state's definition of gambling and are violating state tax obligations and gambling restrictions on New Yorkers under 21. This lawsuit is part of a series of legal disputes over the platforms, with the recently confirmed chair of the Commodity Futures Trading Commission (CFTC) stating his agency has exclusive jurisdiction over them.