People of the State of New York v. Coinbase Financial Markets, Inc.

Removed; remand motion briefed and undecided2d Cir.State v. Platform

Docket last checked September 22, 2026. Snapshot — not legal advice.

As of September 25, 2026, New York has a restriction on prediction-market platforms currently in effect. New York status and cases →

Overview

New York’s enforcement action against Coinbase, and the clearest example on this tracker of the fight over which courthouse decides. The Attorney General brought it as a verified petition in New York County Supreme Court (No. 451604/2026); Coinbase removed it to the Southern District of New York on April 21, 2026. It predates the Attorney General’s parallel § 63(12) proceeding against Kalshi by three months.

The state moved to remand on May 1, 2026, and that motion — fully briefed by June 8 — is the whole case so far. Nothing on the merits has been decided. Coinbase asked to consolidate with two other actions before the same court, People v. Gemini Titan, LLC (No. 26-cv-03318) and the United States and CFTC’s suit against New York (No. 26-cv-03404); the court adjourned that request until it rules on the remand motions, so the consolidation question is stacked behind the forum question.

The case has moved judges twice — Vyskocil, then Marrero, then Judge Lorna G. Schofield in August 2026 — and she now holds the cluster. She took an initial pretrial conference on August 31, 2026 and has set the preliminary-injunction hearing in the federal government’s case against New York for September 14, 2026.

Timeline

April 2026

The Attorney General’s New York County petition against Coinbase is removed to the Southern District of New York.

May 2026

New York moves to remand; the court adjourns Coinbase’s consolidation request until the remand motions are decided.

June 2026

Remand briefing closes; New York files the Michigan remand ruling in Nessel v. KalshiEX as supplemental authority.

August 2026

The case is reassigned to Judge Schofield, who holds an initial pretrial conference across the New York cluster.

What's next: A ruling on the motion to remand, which the court has said it will decide before taking up consolidation. The related federal preliminary-injunction motion was argued September 14, 2026 and is undecided.

Parties

Plaintiffs

  • People of the State of New York, by Letitia James, Attorney General

Defendants

  • Coinbase Financial Markets, Inc.
This page is informational, not legal advice. Nearly every entry in this tracker is a preliminary ruling under appeal. Always verify a platform's current, location-specific eligibility directly with the venue before relying on this page.