Gamification and memes lure young people to sports wagering apps, prediction markets
Platforms are leaning on meme ads and influencers as Pew found about 3 in 10 adults under 30 placed a sports bet last year.
- Prediction markets and sports wagering platforms use memes and unconventional ads to target young users, a strategy Jason Levin of Memelord Technologies describes as "carefully curated" to attract younger audiences.
- Unlike traditional gambling limited to those 21 and older, platforms like Kalshi and Polymarket allow users starting at 18, a window experts note is critical to cognitive development.
- Research on 588 million Polymarket trades found 69% of users lost money, while Dr. Timothy Fong of the UCLA Gambling Studies Program warns the "velocity of gambling" creates a dangerous slope for young people.
- Sen. Katie Britt, R-Ala., and Sen. Richard Blumenthal, D-Con., introduced legislation last week to bar sports betting ads to minors, with Blumenthal characterizing the industry as "treating young people like a gold rush."
- Author Paris Woods warns these platforms erode the financial future of young users at 18 or 19, though Kalshi spokesperson Jack Such defended memes as "just a part of corporate branding.
28 Articles
28 Articles
Prediction markets and sports betting apps are luring in teens. Here’s why experts are concerned
When Rory McIlroy won the Masters for the second year in a row, Kalshi shared a photo of him on Instagram with the words, “Wait he’s goated.” When a video of NBA player Damian Lillard recovering from an injury circulated online, Kalshi’s main competitor Polymarket posted, “The league is cooked.”If you don’t know what either of those phrases mean, it’s because you may not be the target audience.The posts and hundreds of others like it are exposin…
The Toronto Star
Gamification and memes lure young people to sports wagering apps, prediction markets
When Rory McIlroy won the Masters for the second year in a row, Kalshi shared a photo of him on Instagram with the words, “Wait he’s goated.” When a video of NBA player Damian Lillard recovering from an injury circulated…
Gamification and memes lure young people to sports wagering apps and prediction markets
Some sports wagering platforms, as well as popular prediction markets Kalshi and Polymarket, are touting their availability to users starting at 18 despite most U.S. states restricting gambling to 21 and older.
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Bias Distribution
- 42% of the sources lean Left, 42% of the sources are Center
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