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Young adults under 21 traded $5 billion on Kalshi this year, amid prediction market frenzy
Sports and parlays account for about 80% of Kalshi’s volume as leagues and regulators push to keep prediction markets off-limits to younger users.
- Young adults between 18 and 21 traded an estimated $5.4 billion on the Kalshi prediction market so far this year, according to a CNN analysis.
- Prediction platforms operate as federally regulated financial exchanges under the Commodity Futures Trading Commission , allowing users 18 and older to wager on sports despite state gaming laws that set the legal betting age at 21.
- Sports and parlays make up about 80% of Kalshi's overall volume. The American Gaming Association argues these sites offer a 'backdoor into sports-betting' for users under the legal age of 21.
- The NFL, NBA, and other major sports leagues urged the CFTC to raise the minimum trading age to 21, but the agency rebuffed those calls and finalized regulations keeping the 18+ policy intact.
- Some prediction companies, including Novig and Fanatics, voluntarily adopted 21+ policies. Novig CEO Jacob Fortinsky said they want to be a 'good steward' after hearing concerns about irresponsible trading behavior.
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Young adults under 21 traded $5 billion on Kalshi this year, amid prediction market frenzy
Young adults between 18 and 21, who are legally barred from most gambling in the US, have traded an estimated $5.4 billion so far this year on the Kalshi prediction market, according to a new CNN analysis.
·Atlanta, United States
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Kalshi's Youngest Traders Moved $5.4 Billion. Some Rivals Won't Take Their Money
The age that lets someone bet on football through a prediction market is three years younger than the age that lets them do it at a sportsbook. Users between 18 and 20 years old traded an estimated $5.4 billion on Kalshi so far this year, according to a CNN analysis published 28 August. That’s legal because prediction markets are regulated federally as financial products under the Commodity Futures Trading Commission, which sets no minimum age a…
Coverage Details
Total News Sources10
Leaning Left1Leaning Right0Center8Last UpdatedBias Distribution89% Center
Bias Distribution
- 89% of the sources are Center
89% Center
11%
C 89%
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