NYC Council probes prediction market ads by 4 platforms
What's next: Council Speaker Julie Menin plans a hearing as lawmakers weigh whether new city rules are needed.
Bloomberg, CNBC +1
Subject
#Polymarket
New York sued Kalshi, seeking up to $36 billion in penalties
Why it matters: The case could test whether states can police federally regulated prediction markets as gambling.
House GOP adds prediction market betting ban for members of Congress
What's next: The proposal would fine violators $2,000 or 10% of a trade, and still needs Senate passage.
Bloomberg, CNBC