Gambling addicts are struggling as Kalshi and Polymarket explode in the US: ‘You could be betting your rent away’
Gambling addicts are facing new challenges as prediction markets like Kalshi and Polymarket surge in popularity.Summary
Gambling addicts are facing new challenges as prediction markets like Kalshi and Polymarket surge in popularity in the US. Kevin, a 36-year-old recovering addict from Texas, fell back into gambling on Kalshi, a platform that allows users to trade wagers on real-world events, losing between $5,000 and $10,000 in less than a year. Experts warn that these unregulated markets, which operate like stock exchanges, are just as addictive as traditional sportsbooks and pose a significant risk to public health. Despite claims that they are financial exchanges rather than gambling platforms, critics argue the distinction is meaningless, pointing to the fact that 85% of Americans believe prediction markets are gambling. The platforms have aggressively targeted young adults, including college students, and have powerful allies like Donald Trump Jr. Regulators have so far resisted reclassifying them as gambling, but the rise in addiction cases and lawsuits has raised serious concerns about the lack of oversight and consumer protection.
(Source：The Guardian)