Young men chase fast money in prediction markets
CBS News reports that prediction markets like Kalshi and Polymarket attract many young men seeking quick profits and the thrill of risk. About 40% of 18–34-year-olds use these markets, and men comprise the vast majority of users (roughly 3 million of Kalshi’s 4 million). Traders wager on yes/no events and even “mention markets” for phrases spoken by public figures; some wins are sizeable, but most users lose money, with a median ROI around -8% and a small share capturing most profits (0.1% on Polymarket). Personal stories show big early wins followed by losses, reflecting high risk tolerance and the appeal of social status from success, while insider-trading scrutiny remains a concern. Experts note this activity may appeal to financially anxious individuals who overestimate their odds.
