According to BadCredit, 15% of the 1,000 surveyed Americans actively use prediction platforms such as Kalshi, Polymarket, or PredictIt. Meanwhile, nearly 79% of them reported losses over the past year: 27% of those reported losses exceeding $500, and 9% lost over $1,000. Only 21% stated that they did not lose any funds during this period.
Losses were most frequently reported by those who placed bets using borrowed money. According to the research, 51% of prediction market traders paid for contracts using credit cards and consumer loans. 88% of them reported losing money, compared to 69% of users who did not take out loans.
Among those who actively used prediction platforms, nearly 53% stated they wanted to increase their income this way. 27% joined out of curiosity, 10% were influenced by social media content, and 7% joined on the recommendation of friends.
Amid the growing popularity of prediction markets, their performance metrics are also rising. For instance, the total trading volume on Kalshi, Polymarket, and Polymarket US reached $50.59 billion in July, marking a 7.8% increase compared to June. All of this is happening against the backdrop of ongoing legal proceedings in various US states, which are regularly covered by the Happy Coin News editorial team.
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