The New York City Council is investigating four prediction markets for alleged deceptive marketing practices and targeting minors, opening a new front in the bitter, state-by-state legal war over prediction-market regulation.
City Council Speaker Julie Menin sent letters to Polymarket, Kalshi, Coinbase COIN 0.31%increase; up pointing triangle and Gemini Titan, all of which have a presence in New York City, on Aug. 11, seeking answers about how the companies comply with consumer protection laws.
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