New York City is taking a closer look at prediction markets, a type of online platform where users can bet on the outcome of future events, in the wake of growing concerns over their potential impact on advertising and social harms. The city's Department of Consumer and Worker Protection has launched an investigation into these platforms, which have gained popularity in recent years, particularly among younger users. The probe aims to assess whether prediction markets are complying with New York City's laws and regulations, particularly those related to advertising and consumer protection. As the city's lawmakers scrutinize these platforms, questions are being raised about their potential influence on public opinion and the spread of misinformation.
New York City Probes Prediction Markets Over Ads, Social Harms Bloomberg.com
