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New York City Council Launches Investigation into Prediction Market Platforms, Including Kalshi, Polymarket, Coinbase, and Gemini Titan
The New York City Council has sent letters to Kalshi, Polymarket, Coinbase, and Gemini Titan, investigating these platforms for alleged use of "false, deceptive, or abusive marketing strategies" targeting young people. This follows New York Attorney General Letitia James' lawsuit against Kalshi, accusing it of illegal gambling operations and seeking at least $360 billion in civil penalties.
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