Young Adults Traded $5.4 Billion on Kalshi as 18+ Rules Fuel Gambling Loophole Debate
Updated
Updated · CNN · Aug 28
Young Adults Traded $5.4 Billion on Kalshi as 18+ Rules Fuel Gambling Loophole Debate
3 articles · Updated · CNN · Aug 28
Summary
$5.4 billion in Kalshi trades this year came from users aged 18 to 21, CNN estimated, even though most US casinos and sportsbooks bar that age group.
Federal CFTC rules let prediction markets accept users 18 and older as financial exchanges, creating a path around state gambling-age limits that critics say exposes younger adults to addiction and financial harm.
Sports and parlays drove about $3.9 billion of that 18-to-21 activity and could climb further with football season after the World Cup disrupted the usual summer slowdown.
Kalshi, which has logged more than $173 billion in total volume and roughly 90% of the US prediction market, says it uses deposit limits and risk warnings and has donated $2 million to problem-gambling efforts.
The age policy is now part of a wider legal and regulatory fight backed by 44 state attorneys general, tribes and casinos, while some rivals including Fanatics and Novig have chosen 21+ access.