Comment Text:
I vehemently believe that prediction markets like Kalshi and Polymarket provide no value to Americans. The commodification of gambling is dangerous for those with gambling addiction that are unable to escape the constant deluge of ads, and even to those without gambling addiction, the ease of access to these prediction markets is negatively effecting millions of young Americans, particularly young men.
These markets outright encourage and promote insider trading and manipulation. Derivative contracts negate any potential value they provide to accurately predict future events. These websites exist as a blatant way to get around current regulations around sports gambling and have ruined the viewer's experience of the sport too.
I don't have a problem with gambling in and of itself, but I believe that it should not be possible for someone to open an app from their home and punt their weekly paycheck. If someone wants to gamble, it should be necessary to go to a physical location that is strictly regulated by the government in terms of odds and fairness.
Kalshi and Polymarket should not exist in the US.
