New York City Council Speaker Julie Menin announced an investigation into Coinbase, Polymarket, Kalshi and Gemini Titan after sending the four companies letters seeking details on their marketing practices. Coinbase, Polymarket and Kalshi Face Marketing ProbeThe Council said it is examining potentially false, deceptive or abusive marketing by prediction market platforms, with particular concern about advertising that may reach young people. CFTC Orders Kalshi to Keep OperatingOn Tuesday, the CFTC ordered Kalshi to keep operating while its legal fight with New York plays out. The CFTC order does not end James' lawsuit, leaving the underlying dispute over state and federal authority unresolved. New York argues prediction markets can still fall under state gambling laws, while Kalshi and the CFTC say federally regulated exchanges are Washington's territory.