New York City Council to Probe Marketing Practices of Prediction Markets Including Polymarket and Kalshi

1. 1New York City Council Speaker Julie Menin announced an investigation into the marketing and advertising practices of four prediction markets: Polymarket, Kalshi, Coinbase, and Gemini Titan.
2. 2The probe focuses on allegations of false, deceptive, and abusive marketing, with letters sent to the companies containing more than 60 questions and demanding responses within 14 days.
3. 3The inquiry will particularly scrutinize Polymarket's influencer marketing and also consider whether to extend casino and sports betting regulations to prediction markets, along with potential legislation.

Source The Wall Street Journal +3 · View original ↗

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