The National Council on Problem Gambling issued a strongly worded warning Tuesday about the harms from prediction markets, taking a firmer stance on the industry following months of criticism for its initial handling.
Kalshi joined the nonprofit in May — the first prediction market to do so — setting off concerns among some problem gambling groups over NCPG’s approach to the fast growing industry.
Kalshi joining NCPG — and providing $2 million in funding to support “trader health and safety” — was viewed at the time as an acknowledgment that some prediction market users engage in troubling financial behavior.
Kalshi, however, continued to refer to its user activity as “trading,” not “betting” or “gambling.”
