The New York City Council has opened an inquiry into Polymarket, Kalshi, Coinbase, and Gemini Titan regarding their promotional strategies. The review focuses on advertising transparency and the potential exposure of underage users to prediction market promotions.
Disclosure Requirements
Council representatives have requested comprehensive data from each platform. The companies must provide information on user demographics, advertising expenditures, and partnerships with social media influencers. These disclosures will form the basis of the council’s assessment of current outreach methods.Regulatory Context
The inquiry introduces a new oversight measure within New York’s broader review of the prediction market sector. Local authorities have previously implemented operational restrictions for the industry, and this investigation extends scrutiny to consumer marketing channels. The findings will determine whether additional advertising guidelines are required.Earlier regulatory actions in New York have focused on platform licensing and trading mechanics. This review shifts attention toward promotional materials and audience demographics.