Dr. Timothy Fong
Coverage of Dr. Timothy Fong in the Nexus archive.
- LA therapists are seeing more young patients with gambling problems. They blame Kalshi
LA therapists report increased gambling issues among young patients linked to Kalshi, a legal prediction market. Kalshi's trading volume has surged, with contracts on events like the World Cup and local elections. Prediction markets operate under financial exchange rules, avoiding state gambling laws, but clinicians warn of unregulated betting risks.
- Gamification and memes lure young people to sports wagering apps, prediction markets
Prediction market platforms like Kalshi and Polymarket use gamification and meme-driven strategies to attract young users, offering bets on real and absurd events. These platforms, accessible to users as young as 18, face criticism for fostering risky gambling behavior, with 69% of users losing money. Legislation aims to restrict sports betting ads targeting minors, as experts warn about the cognitive risks to teens and young adults.