NewsMV

COIN in Focus as NYC Council Opens Prediction Market Probe Into Coinbase, Polymarket, Kalshi and Gemini Titan

8/12/2026

A two-front regulatory squeeze on prediction markets came into sharper focus when New York City Council Speaker Julie Menin announced an investigation targeting Coinbase Global (NASDAQ: COIN), Polymarket, Kalshi and Gemini Titan.

The Council's letters posed more than 60 questions and gave each company 14 days to respond.

The announcement followed by one day the Commodity Futures Trading Commission's emergency order keeping Kalshi operational while a separate state lawsuit moves through the courts.

Council allegations: marketing practices and messaging The Council said it is examining marketing by prediction market platforms that may be false, deceptive or abusive, with particular concern about advertising that could reach young people.