A survey done for the American Gaming Association finds that many view sports predictions as sports betting.
A YouGov poll of 2,025 registered voters found that 84% of respondents want prediction markets regulated the same way as sports betting. That kind of regulation, according to 65% of respondents, should come from state and tribal gaming regulators.
Sports prediction markets have grown rapidly since the start of this year, drawing increased interest from sports betting brands.
Survey says loophole in use
Seven in 10 respondents said they think prediction markets are exploiting a loophole that lets them offer sports betting without calling themselves a sportsbook.
Nearly two-thirds of respondents, 64%, said gambling operators and regulators have a responsibility to protect those bettors and help them gamble responsibly.
The remaining 36% said adults should be free to spend their money as they choose, even if they “lose their shirt.”
Sports betting names enter predictions
Interest from major sports betting operators has ramped up as NFL betting gets underway.
FanDuel announced in August that it was partnering with exchange operator CME Group to offer predictions, but the announcement did not include sports predictions.
Underdog, meanwhile, launched sports predictions through its daily fantasy app in 16 states, mostly states that do not have legal sports betting of their own. CEO Jeremy Levine told CNBC that the “future of prediction markets is going to be about sports.”
DraftKings CEO Jason Robins, meanwhile, thinks sports predictions will struggle in states with legal sports betting. He also said while the company has not made any announcements, DraftKings is working on plans of its own for sports predictions.
Kalshi sees big sports numbers
Kalshi recently updated its site to present sports contracts in a way that mimics American sportsbook odds, and its first weekend of football generated significant volume.
More than 95% of all trading came from sports contracts. Sunday alone accounted for $196 million in volume, with another $85.1 million from college football on Saturday.
That made it the third-busiest day since Kalshi began taking trades in 2021, and its most active since the 2024 U.S. election.
