Prediction Markets Grow Rapidly Among Young Men, But Most Users Lose Money Amid Insider-Trading Cases
CBS News reported that young men make up the majority of users on major prediction market platforms. Data shows six in ten Kalshi users are between 18 and 34, with roughly three million of four million active accounts belonging to men.
thehindubusinessline.comPrediction markets have drawn a large share of young male users seeking additional income and entertainment through event contracts. CBS News reported that six in ten of Kalshi's total users are between the ages of 18 and 34, and roughly three million of the platform's four million active users are male.
An April survey from Navigator Research found that close to 40 percent of young men between 18 and 34 use prediction markets.
Thomas Christian Owens, a 29-year-old manufacturing engineer in Oklahoma City, created a Kalshi account in January 2026. Three months later he deposited $500, describing the move as a birthday gift to himself. Owens said he hoped winnings would help support family members facing financial pressure.
Owens primarily places sports-related bets, including wagers on the Oklahoma City Thunder. One early basketball combo bet turned a $50 stake into $456. A second combo bet that correctly predicted three professional basketball outcomes converted $196 into nearly $1,700.
His account later fell from a peak near $4,600 to $1,700 after he had deposited a total of $2,500. Owens now limits individual bets to under $100. Steven Zhang, a 20-year-old student at the University of California, Los Angeles, first encountered Polymarket in 2024 through a social media advertisement while studying in the library.
He and friends deposited $20 into a crypto wallet and lost the full amount. -Iran conflict. CBS News reported separate cases under scrutiny involving alleged insider trading on prediction platforms. 2 million on Polymarket using confidential company information.
U.S. raid. Former Rep. George Santos of New York faces examination for alleged insider trading on Kalshi.
Michael Liersch, chief planning officer at Edelman Financial Engines, said young men tend to express more confidence than women when it comes to financial decisions and taking risks. David Bieri, an associate professor at Virginia Tech, told CBS News that men are more likely to consider speculative assets and are less concerned about losing money than women.
A Northwestern Mutual survey found that 75 percent of men currently invested in or considering high-risk assets feel financially behind, compared with 69 percent of women.
1 percent of accounts. Research from Citizens found that the median return on investment for a prediction market user was negative 8 percent. A Polymarket spokesperson stated that the platform is open to eligible adults 18 and older and continues to build on its mission to share human-informed knowledge through open, capital-backed markets.
