NYC Council Probes Coinbase, Kalshi, Polymarket Over Alleged Deceptive Prediction Market Ads

The NYC Council launched an investigation into prediction market advertising practices of Coinbase, Kalshi, Polymarket, and Gemini. This follows earlier reports of deceptive ads Polymarket used to target U.S. users. The probe also comes as New York state cracks down on such activities, raising regulatory scrutiny on crypto prediction platforms.