Prediction markets like Kalshi and Polymarket have become juicy targets for professional gamblers, and even some financial firms.
Following the federal government’s wide-armed embrace of the tech, professional gamblers are flooding into prediction markets like Kalshi and Polymarket.
It’s not hard to see why: in January alone, trading volume on Kalshi almost hit $10 billion, $8.5 billion of which was tied to sports, according to new reporting by Bloomberg. That same month, Kalshi saw three million new downloads.
The waters, in other words, are teeming with prey — and the sharks are moving in.
No longer content to ply their trade on the predatory betting apps of yore — the FanDuels, DraftKings and BetMGMs of the app world — professional gamblers have discovered a lucrative new playground in the wildly unregulated land of prediction markets.
