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TechnologyMay 28

Young Adults Increasingly Targeted by Prediction Markets and Sports Betting Platforms

Prediction markets and sports betting apps are using memes, games, and low entry costs to attract users aged 18 and older, raising concerns about gambling addiction.

Synthesized from 4 sources

Prediction market platforms and sports betting apps are increasingly targeting young adults through meme-driven marketing campaigns and gamified features, according to industry observers and addiction specialists.

Platforms like Kalshi and Polymarket use humor and internet culture references in their social media marketing to reach younger audiences. Recent posts have featured phrases like "Wait he's goated" and "The league is cooked" alongside sports content. Companies also employ meme templates and viral marketing strategies, with some ads showing influencers in extreme scenarios or animals in party settings.

These platforms are available to users starting at age 18, three years younger than traditional gambling age limits in most states. This age gap concerns experts, as recent research on 588 million Polymarket trades found that 69% of users lost money, with profits concentrated among a small group of top traders. Dr. Timothy Fong, co-director of the UCLA Gambling Studies Program, noted that the combination of easy access and rapid transaction speeds creates risks for developing brains.

Many platforms incorporate video game-like features including leaderboards, achievement badges, customizable avatars, and social interaction tools. Some offer low-cost entry points or free-to-play models with optional real-money components. The average reported user age varies by platform, with Kalshi citing 33 years old and Fliff reporting 26 for users who make purchases.

Pew Research Center data shows that about 30% of American adults under 30 placed a sports bet in the past year, with online wagering among that age group rising from 7% three years ago to 20% currently. Prediction markets distinguish themselves from traditional gambling by framing activities as predictions rather than bets, allowing them to operate under federal rather than state regulations.

Bipartisan legislation introduced by Senators Katie Britt and Richard Blumenthal would restrict social media companies from showing sports betting advertisements to minors, citing concerns about platforms treating young people "like a gold rush."

Sources (4)

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