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‘The Ads Got to Me’: College-Age Adults Are Rushing to Prediction Market Sites. Addiction Experts Are Alarmed
States and leagues say 18-year-olds face gambling-like risks as Kalshi reports 4% of trading volume from users ages 18 to 21.
- A bipartisan coalition of 41 states is urging the Commodity Futures Trading Commission to raise the minimum age for prediction markets from 18 to 21, arguing these platforms currently skirt state gaming laws.
- Under current federal law, prediction sites operate as financial exchanges offering "event contracts," allowing users over 18 to participate, unlike traditional sportsbooks requiring 21-year-olds.
- Kalshi joined the National Council on Problem Gambling, pledging $2 million for a "strategic initiative focused on trader health and safety." Critics cite young users like Andrew losing money after aggressive marketing.
- At a Senate hearing Wednesday, lawmakers introduced more than a dozen bills proposing a 21-year age minimum and criticized the lack of federal oversight. President Donald Trump praised the CFTC for maintaining jurisdiction.
- Experts expect the Supreme Court to eventually resolve whether these platforms constitute gambling or legitimate financial exchanges. Major prediction companies recently discussed jointly encouraging the CFTC to voluntarily raise the minimum age to 21.
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12 Articles
12 Articles
By Marshall Cohen and Elisabeth Buchwald, CNN When Andrew needed money for a flight with friends to Greece this summer, the 18-year-old student in his senior high school resorted to the predictive markets. With a $500 cash advance from his credit card company, Andrew sat on a Starbucks for more than six hours, operating in live tennis matches in Kalshi. He left with a $2,200 win. Andrew continued to use Kalshi to supplement the salaries of a par…
·Idaho Falls, United States
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Coverage Details
Total News Sources12
Leaning Left1Leaning Right0Center11Last UpdatedBias Distribution92% Center
Bias Distribution
- 92% of the sources are Center
92% Center
C 92%
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