{"slug": "coin-stock-holds-145-as-new-york-probes-coinbase-prediction-market-ads", "title": "COIN stock holds $145 as New York probes Coinbase prediction-market ads", "summary": "Coinbase [COIN] stock traded above $145 after New York City Council launched an investigation into the advertising practices of four prediction-market platforms, including Coinbase, Polymarket, Kalshi, and Gemini Titan. Council Speaker Julie Menin confirmed the probe on August 12, citing concerns about deceptive marketing and undisclosed influencer payments. COIN rose 0.42% to $149.67 on August 13, showing limited investor reaction.", "body_md": "Coinbase [COIN] stock was trading above **$145** after New York City Council launched an investigation into the advertising conduct of four prediction-market platforms, including Coinbase.\n\nThe inquiry increases scrutiny on Coinbase’s growing prediction-market business, but COIN only reacted slightly, indicating investors do not see the latest news presenting an immediate danger to the company.\n\n**New York examines Coinbase advertising**\n\nNew York City Council Speaker Julie Menin confirmed the investigation into Coinbase on **August 12** and confirmed that it also covers Polymarket, Kalshi, and Gemini Titan.\n\nMenin said prediction markets “aggressively entice consumers to bet and wager” across sports, politics, culture, and other events. She added that the council intends to address “deceptive and predatory marketing practices.”\n\nReuters reported on **August 12** that the letter listed concerns about undisclosed payments to influencers, simulated trading, and promoting material that could reach minors.\n\nThe City Council cannot bring criminal charges, but it can request documents, issue subpoenas, hold hearings, and propose consumer-protection rules.\n\nThe investigation is unrelated to the lawsuit filed in April by New York Attorney General Letitia James alleging Coinbase event contracts are unlicensed gambling. But Coinbase maintains that prediction markets are federally regulated derivatives overseen by the Commodity Futures Trading Commission.\n\n**Is the investigation affecting COIN stock?**\n\nCOIN traded at **$149.67** on **August 13**, gaining **0.42%** during the session.\n\nThe stock has remained roughly between **$145 and $153** following its fall in late July, but so far, the new investigation has not led to another significant sell-off.\n\nTrading activity has eased during the consolidation, while price momentum remains relatively weak, which means buyers are not convinced enough to participate. This leaves COIN caught between support around **$145** and resistance near **$153–$155**, but a move above that resistance could put **$160** back in focus.\n\nIf, however, COIN drops below **$145**, then the lows of around **$140** after earnings would become key to keep an eye on.\n\n**Final Summary**\n\n- New York is probing the ads of Coinbase and three other prediction market platforms.\n- COIN is still trading around $145, with little indication so far that investors consider the inquiry an imminent threat.", "url": "https://wpnews.pro/news/coin-stock-holds-145-as-new-york-probes-coinbase-prediction-market-ads", "canonical_source": "https://cryptonews.net/news/analytics/33293015/", "published_at": "2026-08-13 16:12:00+00:00", "updated_at": "2026-08-13 16:21:11.798545+00:00", "lang": "en", "topics": ["ai-policy"], "entities": ["Coinbase", "New York City Council", "Julie Menin", "Polymarket", "Kalshi", "Gemini Titan", "Letitia James", "Commodity Futures Trading Commission"], "alternates": {"html": "https://wpnews.pro/news/coin-stock-holds-145-as-new-york-probes-coinbase-prediction-market-ads", "markdown": "https://wpnews.pro/news/coin-stock-holds-145-as-new-york-probes-coinbase-prediction-market-ads.md", "text": "https://wpnews.pro/news/coin-stock-holds-145-as-new-york-probes-coinbase-prediction-market-ads.txt", "jsonld": "https://wpnews.pro/news/coin-stock-holds-145-as-new-york-probes-coinbase-prediction-market-ads.jsonld"}}