NYC Council Investigates Prediction Market Ad Practices

NYC Council probes Polymarket, Kalshi, Coinbase, and Titan over deceptive marketing and forced bets, questioning if current laws protect residents.

Woofun AI reports that the New York City Council has initiated an inquiry into the advertising methods of four major prediction market platforms. Speaker Julie Menin directed questions to Polymarket, Kalshi, Coinbase Global Inc., and Titan to assess whether existing regulations adequately shield residents from false or deceptive marketing. The investigation also examines policies regarding products that may compel users into forced bets on event contracts. The council stated it is reviewing allegations against Polymarket and similar industry-wide practices to evaluate resulting social harms.