Menin said she is particularly concerned about marketing aimed at young adults and minors, as well as people vulnerable to compulsive wagering.
“Prediction markets aggressively entice consumers to bet and wager on sports, politics, culture, weather, and pretty much anything,” Menin said.
New York state is separately suing Kalshi, Coinbase and Gemini, alleging the companies are operating illegal gambling businesses.
Kalshi, Polymarket and Gemini are headquartered in New York City.
Coinbase, which is incorporated in Texas, has also announced plans to expand its New York City workforce to more than 1,000 employees.