New York City Council opened an investigation on Wednesday into the marketing practices of four prediction market platforms: Kalshi, Polymarket, Coinbase, and Gemini Titan. Speaker Julie Menin sent letters to the four platforms, giving them 14 days to disclose their New York user numbers, marketing methods, and revenue figures. These platforms offer prediction contracts allowing users to bet on real-world events. The City Council fears these practices may constitute predatory marketing toward city residents.
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