Prediction market trading volume is booming, and Truist analysts suggest that 18- to 20-year-olds, too young to gamble legally, are driving the surge. Kalshi’s college football handle surpassed NFL and NBA wagers, indicating a shift in user demographics. Prediction markets like Kalshi and Polymarket offer alternatives in states where online sports betting is restricted to those 21 and older. NCAA President calls for safeguards on college sports trading. Juice Reel reports high prediction market uptake in states without legal sports betting. New York and California residents show a preference for unregulated gambling. Prediction markets attract skilled bettors limited by traditional sportsbooks. Truist analysts note potential for larger gains and losses in prediction markets.

Read more at CNBC: College students, teens could be fueling the boom