Gen Z and millennials are far more likely to get into prediction markets than their elders, but there’s a good chance many aren’t making money on the platforms.
Nearly a third of Gen Zers (32%) and almost a quarter (24%) of millennials say they are currently or considering putting their money into prediction markets or sports betting, a Northwestern Mutual study found in January.
That’s compared with just 17% of all U.S. adults and much smaller shares of Gen Xers and baby boomers. The survey grouped prediction markets and sports betting together when asking if the nearly 4,400 U.S. respondents were involved in various financial activities. It did not mention specific prediction markets.
Prediction markets have exploded in the U.S. in the last couple of years, with trading volumes expected to nearly quadruple in 2026 from the previous year and hit $1 trillion by 2030, according to an April report from investment firm Bernstein. Polymarket and Kalshi dominate the U.S. prediction markets with a combined trading volume of $60 billion so far in 2026, Bernstein reports.
Meanwhile, most traders on prediction market platform Polymarket lose money, according to an April Bloomberg analysis of trade data compiled by data firm Dune. Over 100,000 accounts have lost at least $1,000 on Polymarket, the analysts found, more than double the number of accounts that have won as much money.
