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Prediction markets offer the lure of fast money. Young men say they like their odds.
Earlier this year, Thomas Christian Owens decided to try his hand at prediction market trading for the first time. He created a Kalshi account in January. Three months and a $500 deposit later, he started betting.
"It was a little bit of a birthday gift to myself to throw some money in there and just have some fun," the 29-year-old manufacturing engineer told CBS News.
Owens wasn't expecting to make a killing. He told CBS News that he wanted a little extra money in his pocket to support himself and some of his family members. He had some early successes, but just over a month after he started trading, the Oklahoma City resident found himself in the red.
Kalshi Board Member Brian Quintenz on the growth and evolution of prediction markets
Kalshi Board Member Brian Quintenz speaks with CNBC Events Contributor Tyler Mathisen at the 2026 CNBC CEO Council Summit about the fast-growing prediction market industry and the value they are delivering.
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How prediction markets could forecast the future of science
Online prediction markets are taking bets on everything from climate change to quantum computing. But researchers question their accuracy
Prediction markets such as Kalshi allow users to speculate on the outcomes of real-world events using cryptocurrency.
Prediction markets such as Polymarket and Kalshi have soared in popularity over the past few months. From bets on disease outbreaks to wagers about artificial intelligence, many of their markets relate to science and research. So how do Polymarket’s prediction powers compare to the opinions of subject-matter experts?
In prediction markets, users bet on a future event by buying and selling shares in favour of various outcomes. The price of each share is determined neither by expert opinions nor by the ‘house’ setting odds. Rather, prices are based on demand, reflecting the market’s collective belief in the probability of the outcome.
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