The New York City Council said Wednesday that it is investigating four prediction markets over allegations that the companies engage in deceptive marketing. The probe will examine the advertising practices of Gemini Titan, Kalshi and Polymarket, all of which are based in New York, as well as Texas-based Coinbase. “Prediction markets aggressively entice consumers to…
New York prosecutors are accusing Kalshi of running an illegal gambling operation, becoming the latest state to file a lawsuit against the prediction market. The complaint seeks to halt Kalshi’s operations in New York, force it to pay restitution to consumers who made bets on the platform, forfeit its profits and pay fines equal to three…
Weeks after top Senate Democrats pushed for answers on whether a provision in the controversial tax settlement between President Trump and his own administration applies to companies co-founded by or affiliated with the Trump family, several of the businesses have distanced themselves from the deal, according to Sen. Elizabeth Warren, who launched the investigation. As…
Kalshi, one of the leading prediction markets, is starting a midterm election hub that offers real-time forecasts driven by wagers predicting race outcomes. The hub displays election outcome forecasts, polling, fundraising statistics and historical election data, the company said in a statement on Wednesday. Kalshi bills the hub as a “one-stop-shop for state and federal election…
