New York Resident Sues Stake.com and Coinbase for Alleged Role in Underage Gambling

A lawsuit has been filed in the New York State Supreme Court against Stake.com, Coinbase, and related companies by a resident of the state who claims that they facilitated years of illegal online gambling when he was underage. The plaintiff alleges that the defendants allowed minors to wager and used marketing tactics designed to attract younger users.

The complaint states that the plaintiff began using the defendants' platforms at age 13 and continued until he was 19, resulting in significant financial losses and emotional distress. He claims to have lost his own savings, turned to his father's credit card without permission, and eventually withdrew from college due to his addiction.

The lawsuit also targets Coinbase for its role as a central payment bridge that allegedly allowed customers to turn dollars into cryptocurrency and send funds to offshore gambling accounts. The plaintiff claims that Coinbase continued to handle transfers tied to gambling despite warning signs and provided the necessary mechanism for the defendants to bypass New York's restrictions on online gambling.

The plaintiff is seeking damages and injunctive relief under New York common law and consumer protection statutes, and has demanded a jury trial. His attorneys argue that the defendants built an 'illegal gambling pipeline' that targeted children and profited from their addiction.