Prediction markets and the shifting goalposts of adulthood

There is nothing wrong with being a skeptic of the betting boom. Charles Fain Lehman of the Manhattan Institute is one such person, and when Kalshi announced it was setting monthly deposit caps of $2,500 for all traders aged 18 to 20, Lehman remained unimpressed.

“Ah, if you’re an 18-year-old, you can now only lose $30,000 a year on Kalshi. Because that’s ostensibly not a lot of money for an 18-year-old, I guess?” he quipped at betting and prediction analyst Bill Speros.