New York Attorney General Letitia James sued Coinbase and Gemini Tuesday, accusing them of "illegally running gambling operations" in the state through their prediction market offerings in twin actions that join a mounting pile of litigation between state gambling regulators and prediction market platforms.
Law360
Fintech
WEDNESDAY, APRIL 22, 2026 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

NY AG Sues Coinbase, Gemini Over Event Contract 'Gambling'

By Aislinn Keely

New York Attorney General Letitia James sued Coinbase and Gemini Tuesday, accusing them of "illegally running gambling operations" in the state through their prediction market offerings in twin actions that join a mounting pile of litigation between state gambling regulators and prediction market platforms.

2 documents attached | Read full article » | Save to favorites »

Kalshi, Tribes Must Weigh In On Pause For 9th Circ. Ruling

By Dorothy Atkins

A California federal judge on Tuesday ordered Golden State indigenous groups, KalshiEx Inc. and Robinhood to explain why their fight over allegedly illegal gambling shouldn't be paused pending the Ninth Circuit's decision in a case determining whether Nevada can enforce state gambling laws against prediction markets.

Order attached | Read full article » | Save to favorites »

US Lawmakers Float Path For Fintech Fed Accounts

By Aislinn Keely

Two federal lawmakers from California introduced a bipartisan bill on Tuesday that would create a path for nonbank fintechs to directly access the Federal Reserve's payment rails in the hopes of reducing bank fees and delays for consumers using payment apps.

Bill attached | Read full article » | Save to favorites »

Jury Told Ex-Finance CEO Is The Fall Guy In $100M Fraud Case

By Stewart Bishop

Counsel for the founder of Beneficient on Tuesday told a Manhattan federal jury that the founder of the Dallas-based financial services firm did not defraud its onetime business partner GWG Holdings out of more than $100 million, saying a group of former insiders are trying to scapegoat the executive for GWG's downfall.

Read full article » | Save to favorites »

POLICY & REGULATION

Warsh Rejects Claim He'd Be Trump's 'Sock Puppet' At Fed

By Jon Hill

Federal Reserve chair nominee Kevin Warsh sought at his Tuesday confirmation hearing to rebut Democratic accusations that he would be a White House "sock puppet," distancing himself from President Donald Trump's calls for rate cuts and downplaying their significance.

Read full article » | Save to favorites »

LITIGATION

Mass. Man Says Coinbase, Kraken Failed To Stop $500K Scam

By Julie Manganis

Cryptocurrency platforms Coinbase and Kraken failed to adequately protect a Boston man from a sophisticated "support" scam that led to the loss of $500,000, according to a lawsuit filed in Massachusetts state court on Tuesday.

Complaint attached | Read full article » | Save to favorites »

EXPERT ANALYSIS

Crypto Trading App Statement Advances SEC's New Direction

While the U.S. Securities and Exchange Commission's staff statement from last week carving out an exemption from broker-dealer registration for crypto-trading apps isn't a formal or permanent rule, it's the clearest signal yet of a quickly emerging coherent regulatory framework for digital assets, says Stephen Aschettino at Fox Rothschild.

Read full article » | Save to favorites »

How Cos. Can Prep For Conn. Data Privacy Amendments

Effective July 1, 2026, amendments to the Connecticut Data Privacy Act narrow the safe harbor for data used by banks, insurance companies and other financial services businesses, highlighting how state regulators plan to focus on how companies handle sensitive data and honor the data rights of the state's residents, say attorneys at Day Pitney.

Read full article » | Save to favorites »

At The Fed. Circ., Means-Plus-Function Is Not Quite Dead

Recent Federal Circuit opinions confirm that means-plus-function claims continue to be drafted, issued, litigated and even infringed — but minding the restrictions imposed over the years by courts and statute requires three steps, says Jay Yates at Patterson & Sheridan.

Read full article » | Save to favorites »

E-Discovery Quarterly: Recent Rulings On ESI Control

Several recent federal court decisions have perpetuated a split over what constitutes “control” of electronically stored information — with judges divided on whether the standard should turn on a party's legal right or practical ability to obtain the information, say attorneys at Sidley.

Read full article » | Save to favorites »

LEGAL INDUSTRY

Some Firms Break Lobbying Revenue Records Again

By Alison Knezevich

After raking in record-breaking federal lobbying revenue last year, several firms reported this week that they had their strongest quarter ever in the first three months of 2026, with practice leaders predicting another busy period ahead as midterms approach.

Read full article » | Save to favorites »

Breyer Says 'Shadow Docket' Not A Top Court Power Grab

By Carolyn Muyskens

Retired U.S. Supreme Court Justice Stephen Breyer said Tuesday that the rise of the so-called shadow docket is a consequence of the post-COVID era and not a bid to usurp influence by the high court. 

Read full article » | Save to favorites »

Sullivan & Cromwell Alerts SDNY To AI Errors In Ch. 15 Case

By Andrea Keckley

Sullivan & Cromwell LLP told a New York bankruptcy judge Saturday that an emergency motion it filed in Prince Global Holdings Ltd.'s Chapter 15 case contained several inaccurate citations and other errors, including what the firm described as artificial intelligence "hallucinations."

Letter attached | Read full article » | Save to favorites »

Pillsbury Unlawfully Fired Pregnant Recruiter, Bias Suit Says

By Lauren Berg

The former Black female director for associate recruiting at Pillsbury Winthrop Shaw Pittman LLP says she was unlawfully fired just weeks after disclosing her high-risk pregnancy to her supervisor, according to her discrimination and retaliation lawsuit filed Tuesday in Tennessee federal court.

Complaint attached | Read full article » | Save to favorites »

WDTX Judge Albright Stepping Down At End Of Summer

By Dani Kass

U.S. District Judge Alan Albright is resigning after nearly eight years presiding over cases in the Western District of Texas, Law360 confirmed Tuesday.

Read full article » | Save to favorites »

Ex-Wis. Judge Argues ICE Case Reversal Backs Her Acquittal

By Craig Clough

Former state Judge Hannah Dugan asked a Wisconsin federal judge Tuesday to reconsider an order not to overturn her felony obstruction conviction for directing a defendant in her courtroom away from immigration agents, arguing the Fourth Circuit recently reversed a decision the trial court repeatedly relied upon.

Brief attached | Read full article » | Save to favorites »

Copyright Head Touts 6,000 Registrations Of Human-AI Works

By Theresa Schliep

The U.S. Copyright Office has issued more than 6,000 registrations for works that incorporate artificial intelligence-generated materials and follow the agency's guidance for combined human-made and AI-created works, U.S. Copyright Office leader Shira Perlmutter said Tuesday.

Read full article » | Save to favorites »

Promo that reads Law360 Pulse 2026 AI Survey

COMPANIES IN TODAY'S NEWS

Abiomed Inc.

Amazon.com Inc.

American Federation of Labor & Congress of Industrial Organizations

American Postal Workers Union

Apple Inc.

BGR Government Affairs LLC

Ballard Partners Inc.

Binance Holdings Ltd.

Coinbase Global Inc.

Cox Communications Inc.

Deere & Co.

FCA US LLC

Financial Technology Association

Halliburton Co.

Harvard University

LogMeIn Inc.

Maquet GmbH

Mithun Inc.

Paypal Holdings Inc.

Payward Inc.

Robinhood Markets Inc.

Sony Music Entertainment Inc.

Space Exploration Technologies Corp.

Steuben Foods Inc.

U.S. Chamber of Commerce

LAW FIRMS IN TODAY'S NEWS

Akin Gump

Boies Schiller

Bracewell LLP

Brownstein Hyatt

Conrad Metlitzky

Cravath Swaine

DLA Piper

Day Pitney

Diserio Martin

Eversheds Sutherland

Farella Braun

Fish & Richardson

Fox Rothschild

Gimbel Reilly

Gray Cary

Hogan Lovells

Holland & Knight

Just Food Law PLLC

K&L Gates

Kobre & Kim

Law Office of Lester J. Marston

Lehotsky Keller

Milbank LLP

Patterson & Sheridan

Pillsbury Winthrop

Quinn Emanuel

Scott & Corley

Sidley Austin

Squire Patton

Strang Bradley

Sullivan & Cromwell

Willkie Farr

GOVERNMENT AGENCIES IN TODAY'S NEWS

Blue Lake Rancheria

California Department of Corrections and Rehabilitation

Commodity Futures Trading Commission

Commonwealth of Massachusetts

Connecticut Attorney General's Office

Connecticut Department of Banking

Executive Office of the President

Federal Reserve System

Federal Trade Commission

Judicial Conference of the United States

National Labor Relations Board

New York Attorney General's Office

New York State Gaming Commission

New York Supreme Court, New York County

Picayune Rancheria of Chukchansi Indians

State of Nevada

Texas Attorney General's Office

U.S. Attorney's Office for the Eastern District of Wisconsin

U.S. Attorney's Office for the Southern District of New York

U.S. Bankruptcy Court for the Southern District of New York

U.S. Copyright Office

U.S. Court of Appeals for the Federal Circuit

U.S. Court of Appeals for the Fourth Circuit

U.S. Court of Appeals for the Ninth Circuit

U.S. Department of Homeland Security

U.S. Department of Justice

U.S. District Court for the District of Connecticut

U.S. District Court for the District of Delaware

U.S. District Court for the District of Massachusetts

U.S. District Court for the Eastern District of Tennessee

U.S. District Court for the Eastern District of Texas

U.S. District Court for the Middle District of Tennessee

U.S. District Court for the Northern District of California

U.S. District Court for the Southern District of California

U.S. District Court for the Southern District of Iowa

U.S. District Court for the Southern District of New York

U.S. District Court for the Western District of Texas

U.S. Patent and Trademark Office

U.S. Securities and Exchange Commission

U.S. Senate

U.S. Supreme Court

United States District Court for the Eastern District of Wisconsin