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International Business Times
International Business Times
National

New York Says Prediction Markets Are Predatory. It Is Investigating Them.

Julie Menin Kalshi Polymarket New York The New York City Council
The New York City Council says it is investigating the marketing techniques of prediction markets. (Credit: Unsplash)

New York City announced that it is investigating prediction market betting websites, alleging that the companies use predatory marketing tactics to target young people.

New York City Council Speaker Julie Menin said that she had informed four companies - Kalshi, Polymarket, Coinbase, and Gemini Titan - of the investigation. The city has officially requested information from each company regarding their marketing practices.

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