NYC Council is investigating prediction markets' marketing practices they say are targeting minors

WNYC News | Aug 14

As online prediction markets continue to boom, New York City is taking a closer look at industry practices.

The New York City Council is investigating what some lawmakers are calling potentially deceptive and predatory marketing tactics from four major prediction market platforms: Kalshi, Polymarket, Coinbase, and Gemini Titan. 

The companies have two weeks to respond to the council's inquiry.

The move comes weeks after New York state filed a lawsuit alleging Kalshi is operating an illegal gambling operation.

City Council Speaker Julie Menin joined WNYC's Sean Carlson to discuss the probe.

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