New York launches investigations into four major prediction market companies
By Updated on: August 12, 2026 / 11:32 AM EDT / CBS News Add CBS News on Google The New York City Council said Wednesday that it is investigating four…
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Summary
Multiple states have filed lawsuits against the platforms, including New York, where Attorney General Letitia James has sued Coinbase, Gemini Titan and Kalshi, accusing them of running illegal gambling operations that flout state laws. Michael Nagle / Bloomberg via Getty Images As part of the investigation, Menin has requested information from the platforms about their marketing practices in New York. The New York City Council has opened an investigation into four major prediction market platforms, alleging they may be using false, deceptive, or abusive marketing tactics to target young people.
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Multiple states have filed lawsuits against the platforms, including New York, where Attorney General Letitia James has sued Coinbase, Gemini Titan and Kalshi, accusing them of running illegal gambling operations that flout state laws.
according to CBS News — LatestMichael Nagle / Bloomberg via Getty Images As part of the investigation, Menin has requested information from the platforms about their marketing practices in New York.
according to CBS News — LatestThe New York City Council has opened an investigation into four major prediction market platforms, alleging they may be using false, deceptive, or abusive marketing tactics to target young people.
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