Most Americans oppose using prediction markets to bet on U.S. elections and other government actions, according to a Reuters/Ipsos opinion poll that suggests the booming markets may lack broad public support as policymakers debate how to regulate them.
The rapidly growing prediction market industry led by Polymarket and Kalshi allows people to bet on a raft of events, including U.S. elections, government policy moves and sports games, raising concerns among policymakers that the platforms are opening up new avenues for insider trading and manipulation.
The companies say they have extensive controls to guard against misconduct, that their markets are often better at forecasting outcomes than traditional polls, and that they offer unique ways to hedge a range of esoteric real-world risks.
