College students, teens could be fueling the boom
CNBC • • general
Key Points:
- Prediction market trading volume is surging, with analysts suggesting that 18- to 20-year-olds, who are often too young for legal sports betting, may be driving this growth.
- Data from HoldCrunch indicates that Kalshi's college football trades have surpassed NFL and NBA wagers, hinting at a younger demographic's involvement in prediction markets.
- Prediction platforms like Kalshi and Polymarket are filling gaps in states without legal sports betting and allow users 18 and older to participate, unlike traditional sportsbooks which typically require users to be 21 or older.
- Higher adoption of prediction markets is seen in states without legal sports betting, such as California and Texas, and in New York where financial traders and younger bettors may be fueling
