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Updated on: August 12, 2026 / 11:48 AM EDT
/ CBS News
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The New York City Council said Wednesday that it is investigating four prediction markets over allegations that the companies engage in deceptive marketing.The probe will examine the advertising practices of Gemini Titan, Kalshi and Polymarket, all of which are based in New York, as well as Texas-based Coinbase."Prediction markets aggressively entice consumers to bet and wager on sports, politics, culture, weather and pretty much anything," New York City Council Speaker Julie Menin said in a statement. "We refuse to let New Yorkers, especially our young people, become collateral damage."
