If you are referring to the use of long-chain polymers as friction reducing agents, it goes back to the America's Cup.

I believe it was one of DC's boats in the late '80's that had an injection system that pumped a goo onto the hull surface while sailing.

Not sure of the actual reason given for their banning back then, but they are banned in most one-design classes due to their perceived cost and "unfair advantage" given to those that use them.