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What will be the next significant legal or regulatory action against NGL Labs by the end of 2024?
2
Resolution / Starting Odds
Another FTC action • 25%
Class action lawsuit • 25%
State-level regulatory action • 25%
No significant action • 25%
Credible news sources or official announcements
Story
FTC Bans NGL from Offering Anonymous Messaging Apps to Minors in $5 Million Settlement
Jul 9, 2024, 02:41 PM
The Federal Trade Commission (FTC) has issued an order banning NGL Labs and its founders from offering anonymous messaging apps to users under 18. This decision marks the first time federal regulators have prohibited a digital platform from serving minors. The FTC accused NGL of exaggerating its ability to use artificial intelligence to curb cyberbullying. As part of the groundbreaking settlement, NGL agreed to pay $5 million and cease marketing to children and teenagers.
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Appeal the FTC decision • 25%
Rebrand and launch new app • 25%
Shut down operations • 25%
Comply without further action • 25%
Mostly Positive • 25%
Mostly Negative • 25%
Mixed • 25%
Indifferent • 25%
User base increases • 25%
User base decreases • 25%
User base remains stable • 25%
User base fluctuates significantly • 25%
Ryan Salame's Sentence Reduced • 25%
Michelle Bond Indicted • 25%
New Charges Against Another Executive • 25%
No Further Actions • 25%
Non-compete clause lawsuit • 25%
Intellectual property lawsuit • 25%
Employment discrimination lawsuit • 25%
Other • 25%
Complete shutdown • 25%
Heavy fines • 25%
Operational restrictions • 25%
No further action • 25%
New lawsuit filed • 25%
Settlement reached • 25%
Bankruptcy declared • 25%
No major legal action • 25%
OpenSea • 25%
Rarible • 25%
Foundation • 25%
Other • 25%
New regulations introduced • 25%
Existing regulations enforced • 25%
No significant actions • 25%
Other • 25%
SEC declares NFTs as securities • 25%
Other US regulatory body declares NFTs as securities • 25%
No major regulatory action • 25%
Other outcome • 25%