Americans wagered more than $1.7 billion on the Super Bowl this month, highlighting how online gambling has become a dangerous new norm in our culture.
A report from the American Gaming Association notes this figure represents only legal sports betting. The real number — which includes illegal betting and new “prediction markets” — is probably much higher.
Prediction markets, like Kalshi and DraftKings Predictions, are particularly troubling because they operate without state oversight. Unlike traditional sportsbooks that must get permission from each state before they can take wagers, prediction markets are classified as federally regulated futures exchanges, and they try to target users anywhere in America — including states that have rejected online sports betting.
Kalshi alone saw users trade $500 million on the Super Bowl game outcome, plus millions more on trivial bets like which song would play first at halftime or which celebrities would attend the game. This shows how gambling companies are turning every aspect of sports into a betting opportunity.
One report found that one in eight people at NFL games opened betting apps while in the stadium — which seems to suggest people may be gambling impulsively or placing prop bets during games.
All of this raises serious concerns. Sports betting promises entertainment and easy money, but it devastates individuals, families, and whole communities.
As powerful corporations try to make sports betting part of everyday life, it’s important for Arkansas to protect citizens and families from predatory gambling. Otherwise, problem gambling will simply hurt more and more people in our state.
That is why Family Council is calling on all Arkansans to stand up against predatory sports betting and prediction markets.
Articles appearing on this website are written with the aid of Family Council’s researchers and writers.
