Story perspectives

Prediction Markets Surge Amid Legal Battles and Concerns

3/23/2026

Summary

Story summary

Prediction markets are gaining attention as outcome-betting platforms, with volumes over $13 billion by end of 2025.
A Utah poll shows 31% familiarity and that younger residents are more engaged.
Jenny Groberg argues these markets are gambling, despite claims to the contrary.
Kalshi, the prediction markets platform, faces criminal charges in Arizona for operating an illegal gambling business.
Americans increasingly view sports betting as an investment, raising societal concerns.

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Story summary

Prediction markets are gaining attention as outcome-betting platforms, with volumes over $13 billion by end of 2025.
A Utah poll shows 31% familiarity and that younger residents are more engaged.
Jenny Groberg argues these markets are gambling, despite claims to the contrary.
Kalshi, the prediction markets platform, faces criminal charges in Arizona for operating an illegal gambling business.
Americans increasingly view sports betting as an investment, raising societal concerns.