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Young adults under 21 traded $5 billion on Kalshi this year, amid prediction market frenzy
Sports and parlays account for about 80% of Kalshi’s volume as leagues and regulators push to keep prediction markets off-limits to younger users.
- Young adults between 18 and 21 traded an estimated $5.4 billion on the Kalshi prediction market so far this year, according to a CNN analysis, sidestepping state gambling age restrictions.
- Prediction platforms operate as federally regulated financial exchanges under the Commodity Futures Trading Commission , allowing users 18 and older to wager on sports and culture despite state gaming laws that prohibit it.
- Sports and parlays comprise about 80% of Kalshi's overall volume, prompting The American Gaming Association to characterize these sites as offering a 'backdoor into sports-betting' for users under the legal age of 21.
- The NFL, NBA, and other major sports leagues urged the CFTC to raise the minimum trading age to 21, but the agency rebuffed those calls and is finalizing regulations that keep the 18+ policy intact.
- Some prediction companies, including Novig and Fanatics, have voluntarily adopted 21+ policies. Novig CEO Jacob Fortinsky stated the company wants to be a 'good steward' after hearing concerns about irresponsible trading behavior.
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11 Articles
Young adults under 21 traded $5 billion on Kalshi this year, amid prediction market frenzy
Young adults between 18 and 21, who are legally barred from most gambling in the US, have traded an estimated $5.4 billion so far this year on the Kalshi prediction market, according to a new CNN analysis.
·Atlanta, United States
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Kalshi's Youngest Traders Moved $5.4 Billion. Some Rivals Won't Take Their Money
The age that lets someone bet on football through a prediction market is three years younger than the age that lets them do it at a sportsbook. Users between 18 and 20 years old traded an estimated $5.4 billion on Kalshi so far this year, according to a CNN analysis published 28 August. That’s legal because prediction markets are regulated federally as financial products under the Commodity Futures Trading Commission, which sets no minimum age a…
Coverage Details
Total News Sources11
Leaning Left1Leaning Right0Center9Last UpdatedBias Distribution90% Center
Bias Distribution
- 90% of the sources are Center
90% Center
C 90%
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