Story perspectives

NYC Council probes four crypto platforms for predatory youth marketing

8/12/2026

Summary

Story summary

NYC Council speaker Julie Menin announced an investigation of four platforms for predatory marketing of youth.
She mailed letters to Polymarket, Kalshi, Coinbase and Gemini Titan requesting ad details and citing Polymarket’s alleged influencer scheme.
Polymarket said it will review its promotions.
Coinbase said its markets are CFTC-regulated and lawful.
New York state is suing Kalshi, Coinbase and Gemini for alleged illegal gambling, while Polymarket faces no suit.

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Story summary

NYC Council speaker Julie Menin announced an investigation of four platforms for predatory marketing of youth.
She mailed letters to Polymarket, Kalshi, Coinbase and Gemini Titan requesting ad details and citing Polymarket’s alleged influencer scheme.
Polymarket said it will review its promotions.
Coinbase said its markets are CFTC-regulated and lawful.
New York state is suing Kalshi, Coinbase and Gemini for alleged illegal gambling, while Polymarket faces no suit.