According to CoinMeta, the New York City Council has launched investigations into Kalshi, Polymarket, Coinbase, and Gemini Titan for alleged fraudulent and potentially predatory marketing practices. A council spokesperson, Julie Menin, stated that these platforms encourage young consumers to place bets on sports, political events, etc., which could harm them. The council has requested information on the marketing practices of these four companies in New York, and the investigation may extend to other predictive market operators. Polymarket has come under attention due to a Wall Street Journal investigation that alleges it paid online creators to promote trades and made profits appear larger. This investigation does not determine the legality of predictive market contracts; its focus is on advertising and promotional practices. Coinbase claimed to provide predictive markets that are regulated by CFTC and complies with the law. Kalshi and Gemini Titan have not yet responded to requests for comment. This investigation comes amid a broader struggle for regulatory power over predictive markets, as New York Attorney General Letitia James has filed lawsuits against Coinbase and others, accusing them of operating illegal gambling businesses.