{"id":642414,"date":"2026-08-12T20:36:58","date_gmt":"2026-08-12T20:36:58","guid":{"rendered":"https:\/\/e-bitco.in\/index.php\/2026\/08\/12\/nyc-council-announces-probe-into-predatory-marketing-practices-on-prediction-markets\/"},"modified":"2026-08-12T20:36:58","modified_gmt":"2026-08-12T20:36:58","slug":"nyc-council-announces-probe-into-predatory-marketing-practices-on-prediction-markets","status":"publish","type":"post","link":"https:\/\/e-bitco.in\/index.php\/2026\/08\/12\/nyc-council-announces-probe-into-predatory-marketing-practices-on-prediction-markets\/","title":{"rendered":"NYC council announces probe into \u2018predatory marketing practices\u2019 on prediction markets"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-us-takes-regulatory-steps-for-blockchain-technology-adoption-1.jpg\" alt=\"NYC council announces probe into \u2018predatory marketing practices\u2019 on prediction markets\" class=\"type:primaryImage\" \/><\/p>\n<p>Council Speaker Julie Menin sent letters to four companies offering prediction market services to New Yorkers as part of an investigation into their marketing practices.<\/p>\n<p>The New York City Council launched an investigation into companies offering prediction market services, aiming to examine whether they used \u201cfalse and deceptive marketing\u201d through influencers to target young adults.<\/p>\n<p>In a Wednesday notice, the council <a href=\"https:\/\/council.nyc.gov\/press\/2026\/08\/12\/3215\/\" rel=\"noopener noreferrer\" target=\"_blank\">said<\/a> Speaker Julie Menin sent letters to Kalshi, Polymarket, Coinbase and Gemini Titan as part of an investigation into what they called \u201cabusive marketing\u201d through the platforms\u2019 prediction market services. The probe will determine whether New York City officials need to consider additional measures against such marketing practices, including legislation, education and enforcement.<\/p>\n<p>\u201cApps like Polymarket are expanding rapidly unchecked,\u201d said Council Member Shekar Krishnan, who chairs the committee on oversight and investigations. \u201cTheir unprecedented reach is because they are preying on young adults and minors with deceptive and sometimes outright false marketing tactics that pull them in and wring them dry.\u201d<\/p>\n<p><a href=\"https:\/\/cointelegraph.com\/news\/new-york-council-probe-marketing-practices-prediction-markets\">Read more<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Council Speaker Julie Menin sent letters to four companies offering prediction market services to New Yorkers as part of an investigation into their marketing practices. The New York City Council launched an investigation into companies offering prediction market services, aiming to examine whether they used \u201cfalse and deceptive marketing\u201d through influencers to target young adults. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":642415,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":{"0":"post-642414","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-blockchain"},"_links":{"self":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/642414","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/comments?post=642414"}],"version-history":[{"count":0,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/642414\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media\/642415"}],"wp:attachment":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media?parent=642414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/categories?post=642414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/tags?post=642414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}