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Kalshi Invests $2M in Problem Gambling Council Despite Rejecting Gambling Label
Kalshi will fund a new NCPG initiative to expand consumer education and responsible-trading tools, while noting most users on its platform lose money.
- On Monday, prediction market platform Kalshi announced a $2 million, two-year investment in the National Council on Problem Gambling to advance trader health and safety. Kalshi joined the council's newly created Financial Services & Trading Subcategory.
- Explosive growth in prediction markets, which have seen over 1,000% annual expansion, prompted the initiative as Kalshi seeks to set new standards for responsible trading. The company acknowledges that most users on its platform lose money.
- The investment will fund a "needs assessment" of prediction market users and support Kalshi's pursuit of accreditation under updated responsible-gambling standards. John Bivona, head of government relations, said, "We have a responsibility here."
- Discussions between Kalshi and the NCPG regarding promotion of the 1-800-MY-RESET helpline remain ongoing, with Cole Wogoman, director of policy and partnerships, seeking language to make users "more comfortable calling" if they encounter problems.
- Northwestern Mutual data shows 32% of Gen Z and 24% of millennials use prediction markets, significantly higher than the 17% of all U.S. adults. This partnership may serve as a blueprint for other digital finance sectors addressing consumer protection.
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Total News Sources15
Leaning Left1Leaning Right0Center2Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 33%
C 67%
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