State v. operator
People of the State of New York, by Letitia James v. Coinbase Financial Markets, Inc.
U.S. District Court for the Southern District of New York (removed from N.Y. Supreme Court, Index No. 451604/2026), 1:26-cv-03300
Pending
Removed April 21, 2026 and assigned to Judge Victor Marrero. New York's remand motion was fully briefed on June 8, 2026 and no ruling has been found.
The question
Whether New York's enforcement suit belongs in federal or state court, and whether New York gambling law can be applied to the operator's event contracts.
New York filed a state-court petition against Coinbase's derivatives entity over its event contracts; Coinbase removed it, and the state is seeking remand.
Docket timeline
Remand motion fully briefed (New York's reply).
Source: dockets.justia.com
Court defers Coinbase's request to consolidate with the Gemini case and the United States/CFTC v. New York action until it rules on remand.
Source: dockets.justia.com
New York moves to remand to state court.
Source: dockets.justia.com
Case reassigned to Judge Victor Marrero.
Source: dockets.justia.com
Case removed to federal court.
Source: dockets.justia.com
New York Attorney General files suit in state court against Coinbase (and separately Gemini).
Source: ny1.com