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FrontRow · Aug 12, 2026

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The New York City Council is investigating marketing practices by prediction market platforms, the office of Council Speaker Julie Menin said on Wednesday. In letters to four prediction market platforms — Polymarket, Kalshi, Coinbase and Gemini Titan — Menin wrote that the council has been examining allegations of "false, deceptive, unconscionable, and objectionable marketing practices" by event contract exchanges for months. "Prediction markets aggressively entice consumers to bet and wager on sports, politics, culture, weather, and pretty much anything," Menin said in a statement. "I intend to harness the full power of the Council to protect New Yorkers from deceptive and predatory marketing practices by prediction market platforms." Menin the letters referenced an investigation by The Wall Street Journal that claimed that Polymarket conducted misleading marketing campaigns. The Journal said in a June article that Polymarket made it appear as though content creators it partnered with were winning on the platform when, in fact, they were not using their own money. The Journal's reporting led to an investigation by the Commodity Futures Trading Commission, the federal regulator for prediction markets.

The New York City Council is investigating marketing practices by prediction market platforms, the office of Council Speaker Julie Menin said on Wednesday. In letters to four prediction market platforms — Polymarket, Kalshi, Coinbase and Gemini Titan — Menin wrote that the council has been examining allegations of "false, deceptive, unconscionable, and objectionable marketing practices" by event contract exchanges for months. "Prediction markets aggressively entice consumers to bet and wager on sports, politics, culture, weather, and pretty much anything," Menin said in a statement. "I intend to harness the full power of the Council to protect New Yorkers from deceptive and predatory marketing practices by prediction market platforms." Menin the letters referenced an investigation by The Wall Street Journal that claimed that Polymarket conducted misleading marketing campaigns. The Journal said in a June article that Polymarket made it appear as though content creators it partnered with were winning on the platform when, in fact, they were not using their own money. The Journal's reporting led to an investigation by the Commodity Futures Trading Commission, the federal regulator for prediction markets.

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