Not All of Kalshi’s Biggest Users Can Legally Gamble. They Traded $5 Billion This Year

As the prediction market faces lawsuits and regulatory scrutiny nationwide, a new report from CNN finds that an age group mostly barred from gambling in the U.S. has been using Kalshi this year.

BY SAM BLUM, SENIOR WRITER @SAMMBLUM

This year, the prediction market Kalshi has hosted $5 billion worth of transactions from users between the ages of 18 and 21, a demographic that is legally prohibited from gambling throughout much of the country, according to a new analysis from CNN. 

The findings come amid scrutiny from state gambling commissions and state and federal courts, which have argued steadfastly that prediction markets provide an unlicensed gambling service. Kalshi, which allows users to place bets on the outcomes of a vast swath of events from political horse races, the weather,........

© Inc.com