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Prediction markets say they're different from sportsbooks. Gambling addicts say it's all the same
Two self-excluded gamblers say prediction markets triggered relapses as regulators and courts debate whether the platforms fall under federal oversight.
- Two gambling addicts told The Associated Press they relapsed on Kalshi and Polymarket after self-excluding from sportsbooks, exposing a significant gap in protection programs for vulnerable users.
- Prediction and sportsbooks offer similar wagering options on games and individual performances, creating a familiar cycle of anticipation and action that users struggle to resist once inside.
- Dr. Cynthia Grant, vice president of clinical for Birches Health, said the addiction cycle remains identical regardless of platform: "different doors into the same room" where the experience feels familiar.
- The Commodity Futures Trading Commission asserts exclusive jurisdiction over prediction markets, with CFTC chairman Michael Selig backing platforms in legal proceedings against states attempting to regulate them.
- With the sports-focused market projected to reach approximately $1.1 trillion annually, Kalshi is collaborating on national self-exclusion programs, though overlap with state-regulated systems remains unclear.
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30 Articles
30 Articles
Gambling: Prediction markets just as addictive as sportsbooks
Clinicians who treat gambling disorders are concerned about their patients turning to prediction markets. Two gambling addicts who spoke to The Associated Press say they had relapses on prediction markets after they took legal action to protect themselves from the…
·Charleston, United States
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Coverage Details
Total News Sources30
Leaning Left10Leaning Right1Center16Last UpdatedBias Distribution59% Center
Bias Distribution
- 59% of the sources are Center
59% Center
L 37%
C 59%
Factuality
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