Prediction market companies that let people risk money on whether something will or won’t happen are engaging in gambling, and either need to stop doing it, or bring the activity in line with state gambling laws, panelists at a major gambling industry conference said Tuesday.
Speaking at the East Coast Gaming Congress at Hard Rock Hotel & Casino Atlantic City, panelists representing casinos, sportsbooks and gambling regulators railed against companies like Kalshi and Polymarket.
These firms let people risk money not only on the outcome of sporting events but also on whether President Donald Trump will say certain words during a speech, what the price of Bitcoin will be tomorrow evening, and how long the partial government shutdown will last.
