According to CoinMeta, Coinbase, Polymarket, and Kalshi are facing investigations by New York City regarding their prediction markets. A spokesperson for the New York City Council, Julie Menin, announced an investigation into these four companies, focusing on their marketing practices. This investigation coincides with the ongoing regulatory battles involving CoinBase. In April, the New York Attorney General, Letitia James, filed lawsuits against Coinbase and Gemini, accusing their prediction market operations of constituting illegal gambling. Meanwhile, the Commodity Futures Trading Commission (CFTC) has ordered Kalshi to continue operating, despite New York State's efforts to obtain a court order to prevent them from offering event contracts. A letter from Menin raised over 60 questions and required the company to respond within 14 days. The investigation also pays special attention to advertising practices that may mislead young people.