Young Kalshi Users Trade Billions in Sports Contracts, Exposing Underage Betting Loophole

Summary

Young Kalshi users, some as young as 18, have traded an estimated $3.9 billion on sports-related contracts this year, exploiting a loophole that allows them to participate in prediction markets before the legal gambling age of 21. Critics argue that Kalshi's regulation as a financial market by the CFTC, rather than a gambling platform, enables this underage activity, leading to lawsuits and concerns about behavioral addiction.