Survey Reveals 15% of Americans Have Bought Prediction Contracts
Want to get more Covers content? Add us as a preferred source on your Google account here . Fifteen percent of Americans bought sports event contracts using popular prediction markets, an annual survey released on Monday found.
The 15% figure isn’t that far behind the total percentage of Americans that owned an active sportsbook account, which was cited at 27%. Key Takeaways More than half of men aged 18-49 operate an active sportsbook account. Americans believe that prediction platforms should be regulated like sportsbooks.
An analysis found that approximately 90% of Kalshi’s estimated annualized revenue came from sports contracts. The Siena Research Institute (SRI) and St. Bonaventure University’s Jandoli School of Communication released the findings of the yearly American Sports Fanship Survey , which included a new focus on the rise of prediction markets.
America is firmly in the middle of a widespread gambling boom. Not only one-in-four Americans, but 52% of American men aged 18-49 admitted to operating active online sportsbook accounts. That’s despite most states imposing a minimum gambling age of 21, suggesting that betting activity begins well before anticipated.
Even with the rise of prediction markets, sportsbooks aren’t in any danger of going out of business. That said, they are facing significantly more competition than they did even one year ago. Sports event contracts at prediction markets allow users to buy “Yes” and “No” contracts associated with different outcomes, offering a similar service to placing wagers at legal sportsbooks.
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