when you are too young for sportsbook but old enough for prediction market.

[bitbollo]

this is the problem with a regulated market that has not yet scrutinized enough.
Gambling industry is still new on their Terms, and much more evident this appears with prediction market.
Probably a common framerwork (that include stablecoins crypto and bitcoin) must be adopted at a certain point but I don't think there is a real interest for that.

[Pandu Geddon]

But seeing billions of dollars coming into Kalshi, especially from younger users, it's obvious that many of them probably see what they're doing as gambling anyway.

Because at first they could not create an account on a sports betting site due to age issues, they found a place that they considered appropriate to bet on a prediction market that had an age loophole that could accept them for betting.
The regulations are indeed different for both because they are considered different. If both use gambling regulations, of course those under that age cannot access it.

[Queen uloma]

Thanks for bringing this to the forum, I think once upon a time it was the same with online casinos, and today they restricted underages but prediction market hasn't, which makes sense, not to me though but to them.

Let the highest peak damage be done first before we start restricting underages, because tell me how the hell this is happening and no one is complaining about it yet.

I feel they knew what they are doing, when they are done and the damages is climbing they will come out as the saviours who saved the day.

I totally agree with you, I think they are waiting until damage has gotten to a serious level before they will start talking about restricting underage. What surprised me more is that, things are happening openly  but no one is actually saying anything yet.

Just like you said, I also  feel they know what they’re  doing. Once the damage has increased more, they will eventually come out as saviors that want to protect people, when they’re supposed to apply adequate measures from the onset

[Odusko]

I read a report saying that around $5 billion in Kalshi sports trading volume came from users aged 18 to 20. We all know that many sportsbooks only allow gamblers who are 21 years old and above. This makes me question the regulation. An 18-year-old may not be allowed to place a sports bet on a sportsbook, but can still put money on a sports prediction market.

If both involve risking money on the outcome of a sports event, why do they have different age requirements? Is there really enough difference between the two to justify that?

Regulations have the benchmark of 18+ year as the crossing adult year anyone at age of 18 years is already considered an adult and legally permanent to gamble as adult, but the reason why most sports bookings don't allow bettors of age gap if 18-21 year old is because their are traditional and have been around for a long time now, since when Regulations are strictly followed and adhered to, unlike now thay predictions market are hardly regulated enough to even cover operations and licensing which have cause some regional unexpected ban on those predictions market.

[Cityhunter34]

I really don't see any restriction when it comes to age in gambling, haven't you seen that almost all the gambling or casino site don't ask for kyc and when they don't ask for kyc how would they know if someone is lying about his or her age, this is the reason why I said when it comes to gambling there's no restriction in age.
The restriction that was put in casino or in gambling site is just for formality because I see and know a lot of underage people that are using casinos without any issue.

That's just the simple truth about it. It's obvious now that many underage people are gambling because of KYC-free sites. There's no way you would know if they are lying or not.

The only way to restrict them is to make KYC mandatory on gambling and casino sites. It is very simple to understand that age restrictions don't work anymore, because they are ready to do everything possible to gamble on casino sites that don't require KYC.

[Bitcoin Smith]

Some laws can be stupid that it don't makes sense, in my country gambling is legal but online gambling is completely banned and it also changes from one country to another and even the legal age changes from 18 to 21 in most platforms and in some nations you can legally enter a casino as teen. But it is what it is, maybe if this is brought into the spotlight of bigger forum then this might change but as of now we have to believe what government says because they only speak the truth.

[Lida93]

This clearly exposes the limitations of domestic laws over offshore online casinos and how they affects regulations because ordinarily for the young gambler he just wants a platform that gives him what he's looking for without caring about certain factors as age and how consistent it is with his country laws regarding his age. A clear example is about how an 18 y/o in country A which laws allows from 20 y/o to be eligible to gamble but has already being gambling right from 17 using an offshore casino because domestic law couldn't hinder him.

[Frankolala]

Underage can gamble in prediction market and it wouldn't be a problem because it's not regulated and they don't ask for KYC unlike, casinos that government regulates. I believe with time, the government will regulate prediction market and all these minors wouldn't use the platform again. It's only a matter of time.

[Zlantann]

Some laws can be stupid that it don't makes sense, in my country gambling is legal but online gambling is completely banned and it also changes from one country to another and even the legal age changes from 18 to 21 in most platforms and in some nations you can legally enter a casino as teen. But it is what it is, maybe if this is brought into the spotlight of bigger forum then this might change but as of now we have to believe what government says because they only speak the truth.

Which law doesn't make sense? Every country makes laws based on their traditions, beliefs, and global standards. Since the law in different countries views adults at different ages, there will always be differences in gambling age in different countries. Online casinos must respect the laws of the jurisdiction they want to operate in, thereby ensuring that underage individuals are not allowed to gamble. This is where KYC becomes important to ensure that children are not exposed to gambling.

[Leahized]

I think one actually deals with school knowledge. That's prediction market. It's a form of gambling. But it political based. If you're not predicting Market, you can use that knowledge somewhere else. Maybe that is why both are not really classified as gambling. It could also be the behaviour of the users that create this distant bond between this two.

Generally, prediction markets are referred to as trading. Therefore, it is not entirely reasonable to associate it with gambling. On the other hand, sportsbook are gambling games, so their age limit is set somewhat higher. I would consider this a positive aspect. Although there are equal risks in both cases. Moreover, now minors can place bets on sportsbook because no age needs to be mentioned.

However, in the case of prediction markets, a minor child may have a sufficient understanding of this relationship. And for this, families also provide adequate support. Most individuals in developing countries invest in prediction markets. So if a minor child moves in the wrong direction, then the parents correct it. Therefore, only gambling platforms have government regulations established.

[Ndabagi01]

Underage can gamble in prediction market and it wouldn't be a problem because it's not regulated and they don't ask for KYC unlike, casinos that government regulates. I believe with time, the government will regulate prediction market and all these minors wouldn't use the platform again. It's only a matter of time.

The amount that has been recorded to have being used by that age group is very significant and one will begin to question if there are some things happening behind that isn’t stopping government to actually regulate this prediction markets like they do to casinos. There are the same things but different way of operations. There should be strict regulations to them just like they’ve putting on gambling casinos, or it’ll get to a point where the damage that would have even done will be irreplaceable.

[Patikno]

I read a report saying that around $5 billion in Kalshi sports trading volume came from users aged 18 to 20. We all know that many sportsbooks only allow gamblers who are 21 years old and above. This makes me question the regulation. An 18-year-old may not be allowed to place a sports bet on a sportsbook, but can still put money on a sports prediction market.

If both involve risking money on the outcome of a sports event, why do they have different age requirements? Is there really enough difference between the two to justify that?

Kalshi sets a minimum age of 18 (commonly, or on average) for user registration on the platform, and from what I have read, it complies with the federal financial regulations of the Commodity Futures Trading Commission (CFTC). I believe Kalshi adheres to the regulations of individual states regarding user age limits; for instance, you can see that in states like Mississippi, the age limit is set at 21 ;

Source : thelines.com - Kalshi Age Requirement

Furthermore, gambling age limits vary by state, though I notice that most states require a minimum age of 18 for gambling (Mississipi is also 21) :

Source : wikipedia.org - Gambling age

So, doesn't that mean the age requirement for gamblers and users of prediction markets is essentially the same ?

[shawonngp]

In my country, Nigeria, the minimum legal gambling age is 18 years. In the U.S. it ranges from 18-21 depending on a few factors, such as specific state laws or the type of gambling in question. I have also checked and the legal minimum age for prediction markets in the United States is 18, so until a new law is formed to increase the limit to 21, then it is all within what the law provides and i don't think there is a problem with that. In my opinion, an 18 year old is old enough to gamble.

In the country where I live, although gambling is not legal, it is considered a very big crime if someone under 20 is gambling, so 20 or more is the minimum age for gambling. There may be different rules in the US. I have seen that in some cases, the minimum age for gambling is 21, but in many countries, 18 is considered the minimum. As far as I know, the prediction market is not government-regulated, so the age limit here is 18 years. I agree with you, yet in all the casino sites I have used, 18 years is the minimum age limit. 21 is too much, I think.

[Miles2006]

Surprised people get worried about a 21 year old spending their money on market prediction or sports betting. In my country people below the age 18 cannot gamble considering any form of betting according to the law, the law stated in most countries might seem as though a 21 year old is not considered an adult.
Both sportsbook and prediction market demands money to place bet, both can either make a gambler lose or win so why not put a strict restriction on both if 21 is the age limit though sportsbook and prediction market has a slight difference comparing both it’s quite understandable why the restriction is only directed to casino alone.

[AmaGold70]

The problem is that there is no clear regulations and there are loopholes sometimes. If a countries do not allow people to gamble until the age of 21 years, the regulators in the country should also make sure that prediction markets that are legal in the country should let people that can make predictions on their site to be at least 21 years old. But sometimes there could be loopholes or the regulators may not know fast. And if they know sometimes, nobody know the politics that is going on underneath.

Sometimes, it could also depend on the region where one is actually coming from because in some gambling or casino sites, somebody of 18 years can be allowed to gamble, and place bet on the betting sites, but where is regulatory system is very rigid, they wouldn't allow someone who is underage to gamble, and if such thing happens to take place, the underaged gambler would be defaulted. Another point is that some of these gamblers who are even underaged, and places their bet online, some of them don't register with their real age, they lie about their age so that they can have their way, unless on the situation that they are asked to verify their account which may possibly show their age on their identity card.

[Emeraldo]

I read a report saying that around $5 billion in Kalshi sports trading volume came from users aged 18 to 20. We all know that many sportsbooks only allow gamblers who are 21 years old and above. This makes me question the regulation. An 18-year-old may not be allowed to place a sports bet on a sportsbook, but can still put money on a sports prediction market.

If both involve risking money on the outcome of a sports event, why do they have different age requirements? Is there really enough difference between the two to justify that?

I don't know about your region but in my region you can gamble once you are from 18 years old upward. 18 years old boy can gamble without any restrictions but 21 years is also cool so they don't be in a hurry to gamble and think they can be making money easily from their bets. Regualtors are still looking for ways they can reduce the rate young boys are spending time to gamble mostly with funds that are meant for something else like their feeding, school fees without using the money to do what was expected.

[Sim_card]

I don't know about other countries but down here in my country, the age limit for gambling is 18+ because that's the age National lottery act and gaming set as the age limit. It means that we wouldn't see it as something wrong for Kalshi to accept gamblers age limit from 18 years and above.

[alastantiger]

Because at first they could not create an account on a sports betting site due to age issues, they found a place that they considered appropriate to bet on a prediction market that had an age loophole that could accept them for betting.
The regulations are indeed different for both because they are considered different. If both use gambling regulations, of course those under that age cannot access it.

I do not see any difference because both of them to me are all gambling and operations  are the same, Sport lbooks is used for sport betting and prediction market are for predicting the price of assets and if you are not already skilled in the market prediction business then what you are doing is gambling and since the owners of market prediction sites already know this then they know that most  of their customers are there to gamble and they are hoping on this to make money from the losers. The only difference here is that, gambling is been spoken about negativity but prediction market is not getting that same treatment.

[meser#]

I consider both of these to be the same thing. In the country where I live, the law states that only those over the age of 18 can place bets; yet, I see many high school students engaging in sports betting. If the transactions took place online, the age limit would prevent them from opening accounts; however, since they place bets at physical betting shops, there is no one to oversee the situation.
The attendant at the shop is concerned only with their own profit.
Regardless of the age limit, the primary priority must be supervision and the enforcement of the law.

[uchegod-21]

I think the difference is mostly how they're legally classified. A sportsbook is gambling while a prediction market is treated more like trading

That is the lies they tell  themselves. How would you stake a very high amount of money on an event you are not too certain of; an event which could either end as you predicted it or not. When the prediction goes wrong, they lose money and when it is right, they win. Prediction markets are also gambling platforms in disguise.

Underage can gamble in prediction market and it wouldn't be a problem because it's not regulated and they don't ask for KYC unlike, casinos that government regulates. I believe with time, the government will regulate prediction market and all these minors wouldn't use the platform again. It's only a matter of time.

I am already sensing that with time, the government will regulate prediction markets heavily because of the issue of insider trading. When it happens, the issue of KYC will also be treated seriously.