‘The Ads Got to Me’: College-Age Adults Are Rushing to Prediction Market Sites. Addiction Experts Are Alarmed

When Andrew needed money for a flight with friends to Greece this summer, the 18-year-old high school senior turned to prediction markets.

With a $500 cash advance from his credit card company, Andrew sat in a Starbucks for more than six hours, trading on live tennis matches on Kalshi. He left with a $2,200 profit.

Andrew continued using Kalshi to supplement wages from a part-time job, funding golf with friends and dates with his girlfriend. But after a scare where he nearly lost $1,000 on an NBA game, he deleted the app and swore he’d never return.

But he later re-downloaded Kalshi, and the cycle started again.

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State gaming laws have far more robust consumer protections than federal commodity-trading laws.

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“The general rule is, if you’re doing something risky, you must be 21,” gaming industry lawyer Dennis Ehling said. “Most states are 21+ for gambling, and there has been no real debate over whether to override the views of states.”

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“‘The Ads Got to Me’: College-Age Adults Are Rushing to Prediction Market Sites. Addiction Experts Are Alarmed,” by Marshall Cohen and Elisabeth Buchwald, was published in CNN on May 28, 2026.