Widespread Support for Prediction Markets Revealed by Kalshi-Backed Survey

Overview of the Kalshi Survey

A recent nationwide study backed by Kalshi illustrates that nearly 90% of Americans favor having access to prediction markets. Respondents tend to perceive these markets more as financial investments rather than forms of gambling, a view that finds strong bipartisan agreement.

Key Findings from the Survey

The research was carried out by Axis Research, which surveyed 1,219 voters across the United States. The sample was carefully weighted to represent the electorate’s diversity across several factors including region, gender, age, ethnicity, and political affiliation. Conducted online between September 18 and 23, 2025, the survey involved multiple panels to ensure broad reach and reduce bias.

Results show that 89% of participants support all Americans having the right to engage with prediction markets, with 54% expressing strong support. Additionally, 70% believe people should be allowed to invest in specific outcomes such as commodity prices, election results, or agricultural futures. Support cuts across political lines, with 75% of Republicans and 71% of Democrats agreeing. This consensus spans income brackets and remains robust even among those who have never participated in prediction markets, with 65% showing support.

Voters overwhelmingly view traditional financial activities like buying stocks or commodities as investments rather than gambling, with 89% affirming this perspective. Correspondingly, 79% feel these activities should fall under federal financial oversight instead of state gaming authorities. This view remains consistent across political affiliations, ethnic groups, and among both investors and non-investors.

Criticism and Contesting Opinions

Some critics point out the potential bias in the findings due to Kalshi’s sponsorship, suggesting the survey results favor the prediction market industry. Kalshi is currently involved in multiple legal challenges at the state level, making the push for federal regulation particularly relevant to their interests.

The company has encountered legal obstacles recently. For instance, it faced a major setback in Massachusetts, where a federal judge transferred one of its cases to state court, complicating its regulatory challenges.

Moreover, contrasting surveys from other sources indicate a more divided public opinion on prediction markets and betting. For example, a YouGov poll found that 44% of Americans and 31% of self-identified sports bettors believe legal betting negatively impacts sports, while only 24% of bettors and 9% of the general public view it positively.