""I wasn't able to set any virtual limits,""
""Unlike sportsbooks that I can visit when I'm in an area where they are legal, there was a lack of control and tools to be transparent for how much I could lose.""
""It's a huge distraction, and I don't think it's a healthy distraction,""
""Particularly if you don't understand how these markets work, you can get yourself into a lot of trouble.""
Prediction markets such as Polymarket and Kalshi allow users to wager on events with few consumer protections, producing substantial monetary losses for some participants. Individual accounts include a $1,700 loss that led to a lawsuit and an instance of more than $10,000 lost during an eight-day binge. Platforms often lack tools to set loss limits or transparency controls that sportsbooks provide. Problem-gambling experts warn that these markets can be addictive and harmful, especially for users who do not understand market mechanics. Courts, lawmakers, and regulators are actively debating appropriate limits and oversight for these services.
Read at Business Insider
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