18-21 year-olds drawn to prediction markets spark age-rule debate
Young adults aged 18 to 21 can place bets on prediction markets like Kalshi and Polymarket because these sites are regulated as financial exchanges rather than gambling, a status critics call a loophole. A CNN profile of an 18-year-old illustrates how quick profits can turn to debt and loss, fueling addiction concerns among experts and regulators. State governments and Congress are debating raising the minimum age to 21 and tightening protections, while the CFTC drafts new rules and some companies (e.g., Fanatics) already enforce 21+ policies and added safeguards.