Kalshi, Polymarket Trading Jumps to $24 Billion as Counselors Warn of Gambling Addiction Risks
Updated
Updated · Psychology Today · Jun 13
Kalshi, Polymarket Trading Jumps to $24 Billion as Counselors Warn of Gambling Addiction Risks
3 articles · Updated · Psychology Today · Jun 13
Summary
$24 billion in global trading on Kalshi and Polymarket by April, up from under $5 billion in late 2025, has intensified concern that prediction markets could widen gambling-related harm.
Counselors and researchers say the platforms mirror gambling because users risk money on binary event outcomes, with always-on access, real-time odds, push alerts and loss-chasing dynamics that can reinforce compulsive behavior.
The debate remains unsettled: the American Gaming Association calls some event contracts illegal sports betting, while platforms and firms such as Robinhood frame them as regulated investing under CFTC oversight.
Mental-health professionals are being urged to screen prediction-market users for gambling-disorder signs—including chasing losses, failed attempts to stop and financial fallout—as the products spread across fintech apps.