A recent poll reveals that the majority of Americans see prediction markets, particularly those involving sports betting, as equivalent to traditional gambling. Concerns about underage exposure and a desire for stricter regulations mirroring those of sportsbooks are highlighted.
The poll, commissioned by the advocacy coalition “Gambling is Not Investing,” found that most Americans view prediction markets as gambling, and hold views linking them to harmful outcomes.Despite the continued emergence of prediction markets across the American marketplace, U.
S. consumers appear hesitant to put their full faith in the emerging sector.A new survey has found 81% of Americans view prediction market sports betting as no different from traditional gambling. Concerns about the exposure of underage and young individuals to prediction markets appear to be persistent. The findings also show that consumers highly favor prediction markets facing the same regulations as sportsbooks, in contrast to existing regulations. A new poll from Gambling is Not Investing, and conducted by Morning Consult, has found that upwards of four out of five Americans view sports betting on prediction markets as no different from gambling. “This polling confirms that unabated sports gambling on prediction markets is a growing concern across America,” said Mick Mulvaney, executive director of the Gambling is Not Investing coalition. “Prediction markets are trying to disguise their sports betting products as a financial investment, misleading Americans and dodging consumer safeguards, like age requirements.” In addition, the poll, conducted among a nationally representative sample of more than 15,000 U.S. adults, per the report, found that more than three-quarters of Americans are concerned that younger individuals could be exposed to “gambling-related harms.” Notably, while sportsbooks require users to be at least 21 years old in the majority of states to bet on sports,are governed by the Commodity Futures Trading Commission , meaning that users are only required to be 18 years old. In addition to the findings showing concern among Americans polled, the survey also appears to have unveiled a growing negative sentiment towards the continued exposure that prediction markets continue to garner across social media and beyond. Upwards of 81% of Americans surveyed by the group were found to believe that prediction market platforms should comply with state gaming regulations. Those would include age-related restrictions, as well as taxation regulations and problem gambling safeguards.As recently as February, the CFTC formed a 35-member advisory committee with several significant players in the prediction market space, a further bid of support for marketplace powerhouses like Kalshi and Polymarket. “Today marks an important and energizing moment at the CFTC as the Innovation Advisory Committee takes shape,” CFTC chairman Michael Selig said in February. “The IAC’s work will help ensure the CFTC’s decisions reflect market realities so the agency can future-proof its markets and develop clear rules of the road for the Golden Age of American Financial Markets.” Jori Negin-Shecter is a sports writer and podcast host, with previous work featured in publications including Sportsnet.ca, Yahoo Sports Canada, and the Nation Network. In addition to joining Covers in 2024 as a contributor, Jori also works as an Associate Producer on Sportsnet Central, and co-hosts the Bird's Eye View Podcast, a show focused on the Toronto Blue Jays.Sports Bettor Abuse Hurting Student-Athlete Experience, NCAA Study FindsIf you choose to make use of any information on this website including online sports betting services from any websites that may be featured on this website, we strongly recommend that you carefully check your local laws before doing so.It is your sole responsibility to understand your local laws and observe them strictly.Covers does not provide any advice or guidance as to the legality of online sports betting or other online gambling activities within your jurisdiction and you are responsible for complying with laws that are applicable to you in your relevant locality.Covers disclaims all liability associated with your use of this website and use of any information contained on it.As a condition of using this website, you agree to hold the owner of this website harmless from any claims arising from your use of any services on any third party website that may be featured by Covers.
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