New York City Council probing Kalshi, Polymarket and other prediction markets over marketing claims

TL;DR

The New York City Council is investigating Gemini Titan, Kalshi, Polymarket, and Coinbase for deceptive marketing.
The investigation focuses on how prediction markets aggressively market to consumers, particularly young people.
Allegations include Polymarket paying content creators to misrepresent earnings and target younger adults with false marketing.
The probe aims to determine if new legislation, enforcement, or education is needed to combat abusive marketing.
This investigation is part of a larger dispute over regulatory control of prediction markets between states and the federal government.

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