According to CoinMeta, as reported by The Block, the New York City Council has sent letters to Kalshi, Polymarket, Coinbase, and Gemini Titan to initiate an investigation into prediction market platforms, with a focus on fraudulent, deceptive, or abusive marketing practices targeting young users. The New York City Council will also examine allegations that Polymarket paid social media creators to produce fake betting and profit-promoting videos outside of their platforms. Officials from multiple states have expressed concerns regarding whether sports-related contracts constitute illegal gambling, and New York Governor Kathy Hochul has signed an executive order prohibiting state government employees from placing bets using insider information in prediction markets.