NYC Council Probes Prediction Market Marketing at Polymarket, Kalshi, Coinbase, Gemini
New York City lawmakers have opened an investigation into marketing practices at major prediction market platforms, including Polymarket and Kalshi, along with Coinbase and Gemini.
The New York City Council has started investigating how major prediction market operators market their products. Platforms named in the review include Polymarket, Kalshi, and related firms Coinbase and Gemini Titan.
Lawmakers suspect the platforms of using misleading advertising, failing to disclose influencer payments, and promoting betting to young users, including potentially underage audiences.
The investigation adds another regulatory layer for prediction markets, which have drawn growing attention as their activity expands across crypto and traditional trading channels.
Source: ForkLog