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Prediction markets allow people over the age of 18 to trade event contracts.

Prediction markets may contribute to growing gambling-related harms.

Betting on elections is a threat to individuals and to democracy.

Federal law prohibits online gambling platforms such as DraftKings or FanDuel from wagers on election outcomes. On the prediction markets of Kalshi and Polymarket, a person can buy an event contract on an election. This election cycle, nearly $1.9 billion has been traded on these markets.

What's the difference between online betting and prediction markets?

Both online gambling platforms and prediction markets involve future events. What’s the difference between wagers and event contracts? That may be a distinction in search of a difference. Regardless, the effects of these platforms and markets on individuals, our elections, and democracy matter enormously.

With online betting, a person may place a wager on the outcome of a sports event, a card game, or just about anything else but an election. If a person has a winning bet, the online platform, a.k.a. the house, must pay out. The house has an interest in a particular outcome. To gamble legally online, a person must be at least 21 years old.

In a prediction market, participants buy........

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