People under 21 can’t use most sportsbooks — so they’ve wagered over $5 billion on Kalshi instead

The American Gaming Association released an analysis finding that people under 21 have wagered more than 5 billion dollars on Kalshi, a prediction market platform, during a period when they are legally barred from using most licensed sportsbooks. Kalshi allows users to bet on event outcomes including political and sports events. The analysis indicates underage betting activity on prediction markets has grown substantially. Prediction markets operate under different regulatory frameworks than traditional sportsbooks, which face stricter age verification requirements.

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