Thoughts On The Increase of Gambling & Financialization Like Kalshi & Polymarket

Hi there. It does seem there is an increase of gambling and financialization out there. Prediction market sites like Kalshi and Polymarket allows users to bet on major events in sports, politics, economic events (interest rate hikes as an example), weather, cryptocurrency, finance, etc. Betting is no longer limited to sports.

I do notice an increase in Youtube ads for gambling and casino slots. It is unknown to me why I am getting more casino ads. I don't play in casinos.

More Ways To Gamble

There are definitely more ways to gamble if companies like Kalshi and Polymarket let you bet on major events outside of sports. Those who are really into politics may want to put money on the line and support their political party during an election season. Someone who thinks interest rates will go up or down will bet accordingly on a prediction market. Those who follow wars may bet on specific war outcomes and try to win bets off of it. This one is kind weird to me.

Prediction markets do appeal to people who want to try to win big quickly while putting money on the line. Winning money without really working in a job does appeal to some.

For me, I don't really want to see Kalshi and Polymarket get too big. It is not good to have a lot of people just gambling. Money could be better used for food production, energy production, manufacturing and infrastructure spending.