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

[Nathrixxx]

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.

Say the fact once you are 18 years and above you will be allowed to gamble on most of the gambling casinos and you don't have to be 21 years Plus, secondly we should not treat gambling in the same context with what prediction market allows, that you are being able to make deposit and play prediction market but being restricted on gambling platform because of underage gambling shows the exact difference between gambling and prediction market, no wonder government are taking drastic measure to fight against Kalshi and other prediction markets platforms.

[Curious T]

All of the sportsbooks and casinos I've bothered to look at have age restriction, they're all 18 years and above. I have not seen any casino that the age limit is 21. The gambling age in my country is 18 and above, too. It doesn't make sense to not allow an 18 year old gamble on casinos, but it's okay to do it on prediction market. But since prediction markets are not considered gambling, I guess the age restriction for gambling does not apply to it. The same way there is no age restriction on non alcoholic drinks. So until prediction be regarded as gambling by the law, they cannot following gambling laws.

[blockman]

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?

We can take example in our country, there's actually no age differences for all of it. For as long as the user can access e-wallets and banking apps and able to deposit easily, that's all that matters for these companies. While there's a different ruling for places like in the US as they have defined kalshi and polymarket as prediction market, we are not blind to see the difference of it. Ironing the age requirement for them should be done and has to be in line with the usual sports books. But as I have exampled, age doesn't really matter in these apps because these platforms can break their own rules and even the government as long as they're not caught or fined with violations.

[Cantsay]

 I was thinking the legal age for gambling has to be +18? I really had no idea that it was 21 and not 18.

I don't know if I'm correct, but I am thinking that the Op might be referring to his country's age limit, and it might not apply to that of the other regions. Both of them are supposed to be 18 or 21, not different, unless they made a mistake or if the whole thing is more complicated than I am currently thinking.

[red4slash]

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?

Different policies may make this a biased thing because we know for the age limit in some countries it becomes different. We take for example for Australia or in some other parts of Europe 18 years is always the standard that they are already considered adults so gambling they can already do but for some Asian regions (which legalize gambling) and the US they will still peg 21 years as their limit in gambling.

So with this consideration, there will always be a bias that is difficult to control, especially in the prediction market even though it happens in Kalshi which requires KYC in it.
It's just that if the report is bigger its users are leaning towards US it might be considered as a violation but when it includes all visitors from Kalshi then it's also a little difficult because this prediction market can be accessed by anyone and from any country except for those who are in the ban of the site.

[Obim34]

I have not seen a sportbook rejecting 18+ gamblers and all the once I have seen is from 18+. And if a sportbook is not allowing 18 years gambler then it would be from the country regular and not from the sportbook in particular. 18 years only boy is an adult which can participate in gambling and can have a decision on his own. And also if sportbooks didn't allow the 18 years gambler to bet in their casinos and prediction market allowed him. It is very simple. The prediction market sees the gambler has adult who can make decisions on his own. Therefore they allowed him to use the site.

The fact that most casinos are now No KYC friendly, how will they identity gamblers who are really not 18+ of age, this is when we ask how to identify gamblers who are not yet of age and are gamblers or turning into compulsive gamblers.

If the casino is kyc free, what’s the difference between them and prediction market?

[Hispo]

...

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 think that contradiction only applies in countries in which regulators only allow people to legally gamble when they are over 21 years old.
Here in Latin America the legal age in order for one to partake in gambling is 18 years old, so in the case of my country there is no contradiction or loophole.

I believe regulation in prediction markets would be more coherent when the same regulation which is applied on sport betting, since prediction markets and bookies are basically the same if they both deal with similar markets, so they are supposed to require the same minimum age for people to participate and risk their money.

[Versatile_choice]

Well, I have never seen a situation like that before, but I think it's possible. You know Prediction market is more about Predicting the outcome, after that you can decide whether you're going to bet or not , and even if you decide not to bet I'm sure you will still get paid for making Prediction.

But I still see reasons why they need to balance the both age for example; if gambling is +18 then the Prediction market is also meant to do the same rather than increasing the one and then reduce the other, maybe they feel that those who are into Prediction market don't like gambling.

[Joeboy]

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?

OP, don't just assume that 18yrs don't gamble on a sportbook..Infact, when it comes to gambling in general, it rules depends heavily on the country that is involved and how that country legally defined gambling..One country could allow an 18 years to to gamble with a casino as well as to have access to the prediction market since the country involved consider those around that age as adults..But it may not be legally acceptable that way for another country...And so in discussion like this, the first thing to consider is the country/geographical location as well as the laws guiding gambling over there.

[Alphakilo]

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?

OP, don't just assume that 18yrs don't gamble on a sportbook..Infact, when it comes to gambling in general, it rules depends heavily on the country that is involved and how that country legally defined gambling..One country could allow an 18 years to to gamble with a casino as well as to have access to the prediction market since the country involved consider those around that age as adults..But it may not be legally acceptable that way for another country...And so in discussion like this, the first thing to consider is the country/geographical location as well as the laws guiding gambling over there.

We should not forget that the predictions market is vying for its own regulations that makes it different from gambling regulations. So what matters most is the money, the state regulations in the region and the platform requirements too.
This is also the digital age where babies own and can use a smartphone better than adults and that goes so much to speak about how they can manipulate systems with VPN and AI tools to meet a basic platform requirement.

[Davidvictorson]

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.

We are indeed in for the shocker of our lives in the next decade.
There is going to be a problem gambling , gambling addiction pandemic in the underaged population more than has ever been seen before unless something is done.
We all know the truth that there is really no difference between the prediction market and the bookies or casinos. Both elicit the same biological reactions in the brain.
The regulators need to act fast and act now before it becomes too late.

[acroman08]

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?

There is no difference between the two, and the reason why people under the age of 21 can place bets on sports on prediction markets is because of loopholes and technicalities, as some government officials who are trying to ban sports event contracts on prediction markets have said before(or at least similar to it), just because you wrap it in a different package does not mean it is not gambling.

[kawetsriyanto]

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.

Are you sure this report is accurate?
Basically the regulation in each country and each casino can be different. As far as I remember, there are countries or casinos which allow the young people who are still 18 years old. If it doesn't break the regulation, we can't say it is a mistake.

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?

As I said above, each country and each platform may have different regulation. So, it isn't so surprising to see the difference among them. Here, the point is in the regulation where the casino stays.

[IjawMan]

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.

Say the fact once you are 18 years and above you will be allowed to gamble on most of the gambling casinos and you don't have to be 21 years Plus, secondly we should not treat gambling in the same context with what prediction market allows, that you are being able to make deposit and play prediction market but being restricted on gambling platform because of underage gambling shows the exact difference between gambling and prediction market, no wonder government are taking drastic measure to fight against Kalshi and other prediction markets platforms.

Many countries permits the legal age for gambling at 18 which is hard for any person who is interested in gambling to wait till he is 20 years plus.

Oh yes, that what the prediction market want every body to think about them as been different from the usual gambling sites but they are forgetting one thing,

people that uses gambling site or the prediction market have one thing in common, which is, what they do is making predictions about outcomes.

[uneng]

It's said with 18 years old your brain isn't totally developed yet, what can lead to impulsive actions. Only around 21 years old the brain is fully developed, so the individual has total control over his mental faculties, especially regards prefrontal cortex.

However, I think it's bullshit. It's like saying the person is an idiot or mentally disabled until completing 21 years old. To not the brain areas totally developed yet doesn't mean the person can't avoid doing wrong things, because even small children know what is right and what is wrong, what they should and shouldn't do.

In the end, such theories are just useful to create incoherences on the bureaucratic laws imposed by regulators.

[r_victory]

Honestly, I don't know what the difference is between sports betting and prediction markets that justifies prohibiting one and allowing the other for this age group; in my opinion, it's all gambling. Perhaps the fact that prediction markets aren't included in this category is what allows people under 21 to use them (when this restriction exists).

[Uhwuchukwu53]

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?

What I sees here is matter of producer target of age and market population, some gambling site have number of population they want to covered taken the 18 years above may give them that target, while some uses that of 21 years above all depends on the target of market population, I believe too well that 18 years of age in many nations is age of full accountability and can carry out any given contract and it will stand by law, most gambler site are mor of the higher their population the more they expand all is targeting to make more money using population increase.

[Nrcewker]

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.

They are knowingly doing this. They know that young people can be easily manipulated and lured into placing prediction bets. They also know that these kids may have access to their parents money or credit cards and may go to any extent to make more money. Hence you see these age relaxations in prediction markets.

Moreover instead of being seen as a game of luck, these prediction markets label themselves as ordinary prediction games. But the harsh truth is that they can cause the same kind of harm. I think the government will soon take steps to enforce age restrictions on prediction markets as well.

[Barikui1]

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?

This is as a result of how both of them are being regulated, but I don't think that it doesn't makes any sense because once you are 18 years of age, you are now an adult that is entitled to do what's best for you, so restricting those from 18-20 from gambling on sport betting is like infringing on the fundamental human rights to do whatever they wishes as an adult.

Then to answer your question, I think that why they have different age limit is because sport betting is broader, and is seen as an act of gambling, so as a result that,  most casinos sets the age limit at 21, while prediction market is seen as derivative trading, so the age limit for that by law in the US is 18 years.

Their is not much difference, but the argument their is that gambling on sport book may easily lead to addiction if you are comparing it to prediction market that is seen as trading.

[danherbias07]

They are trying to be legal in different countries too, and I think that's why the minimum age is 18. Also, I believe it's an admission that they are a gambling industry if they follow the age restrictions of many gambling sites. That means they just lost the legal process, which is still being heard, over whether they are a gambling platform or something else.

I guess it's all up to the parents and guardians again. Will you allow your kid to use prediction markets at 18 years old, or be strict and let them use it only at age 21? It's always the customers who will make up for their lack of strict rules.