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The sharing economy offers untapped potential to alleviate urban poverty by creating jobs and reducing costs for low-income families. Unfortunately, the sharing economy has not lived up to its potential, as cities leaders have chosen to double down on regulations and penalties. This essay argues that cities would be better served leveraging the sharing economy to create new opportunities for the urban poor, and are well positioned to do so. The authors propose creating multistakeholder roundtables to map out the local sharing-economy landscape, identifying gaps and barriers to participation, and proposing strategies to make the sharing economy work for everyone.