Polymarket and Others Are Ignoring New York's Pay Transparency Law

Key Points:

• Three years after New York's pay-transparency law took effect, several employers, including Polymarket, Rillet, Icon, and ButterflyMX, continue to post job listings without required salary ranges despite multiple warnings from the state labor department.
• The law mandates employers with four or more employees to include compensation ranges in online job ads, with penalties up to $3,000 for repeat violations; however, no fines have been issued so far, only warnings.
• Some companies, like ButterflyMX and Little Spoon, updated their job postings to include salary ranges only after media inquiries, while others, such as Rogo, blamed technical glitches for noncompliance and have yet to fully comply on all platforms.
• New York City's pay disclosure law imposes significantly higher fines, up to $250,000 for uncured violations, and has led to enforcement actions against major employers, though penalties have not been levied as companies come into compliance within the allowed timeframe.
• Advocates argue pay transparency aids job seekers in making informed decisions and reduces wage disparities, while critics warn it may discourage some employers from recruiting in New York; studies from other states like Colorado show increased pay disclosure correlates with wage gains without harming employment.