Many states across the US require players to be 21 to gamble. However, platforms like Polymarket and Kalshi, which are federally regulated through the Commodity Futures Trading Commission (CFTC), have a minimum age requirement of 18.
Given that the platforms are currently offering markets on sports events, they are effectively bypassing state gambling laws, according to the Entain executive.
Updating investors yesterday, she stated: “Let me be clear, when people play the prediction markets in sports, it looks like a sports bet, it sounds like a sports bet, and it acts like a sports bet. I don’t think anybody should be in any doubt. It’s sports betting.
“In the US, you’ve got to be 21 to play, [but] 18 to 21-year-olds are playing prediction markets, and they’re playing prediction markets in non [online sports betting..