Prediction markets at odds with US mood on gambling
London Mercury
Americans' acceptance of gambling is declining, leading states to ban prediction markets that profit from betting on future events.Summary
Public acceptance of gambling in the United States has dropped sharply, with a Gallup poll showing only 45% of adults gambling in the past year, down from 64% a decade earlier, and moral approval falling to 57%. This decline has spurred state actions, including Minnesota’s ban and Washington state courts blocking Kalshi’s prediction‑market platform for deceptive marketing of illegal gambling. Researchers note a paradox: the most accurate forecasters are least likely to participate, making these markets attractive mainly to inexperienced bettors. Consequently, prediction markets are viewed as pure gambling rather than tools for allocating capital.
(Source：London Mercury)