Lawmakers are up in arms over prediction-market platforms like Kalshi and Polymarket advertising to minors on social media. Critics caution the companies risk a trajectory like Juul, whose youth-focused marketing led to regulatory scrutiny, legal action, and a steep decline from its $38 billion peak.
Kalshi and Polymarket—which allow people as young as 18 to use their platforms—have leaned in to viral advertising tactics to capture market share. In traditional, state-regulated sports betting, many states require users to be at least 21. Between shitposting and paying affiliates to promote their platforms, Kalshi and Polymarket have generated attention and caused an uproar.
FanDuel cofounder Nigel Eccles says prediction markets have drifted into a type of advertising gambling companies have learned—often painfully—to avoid.
Kalshi has taken heat for a social media ad in which a young woman claimed she paid her rent for two years trading on Kalshi.
“I love gambling; I work in the gambling industry,” Eccles tells Front Office Sports. “But I have a huge problem with people trying to basically mislead customers as if it’s some sort of financial liberation.”
