The Kingpin has set up a bomb which is set to decimate New York within 24 hours, and has pinned the bomb on Spider-Man. Only the web slinger himself can find the villains the Kingpin's working with such as Dr. Octopus, The Lizard, Hobgoblin, and even Venom, obtain the keys to the Kingpin's bomb as well as clearing his own name (not to mention bringing him to justice.
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This game's development is the reason why Sega chose to keep the Spider-Man boss in Revenge of Shinobi.
October 1991 - Joypad N.1 : 92/100
Sega Master System (1991)
Sega CD (1993) [This port contains animated cutscenes as well as music performed by the band Mr. Big]
Arcade (1991) "Spider-Man vs The Kingpin [Model 610-0239-54]"