[avn2109]

Key point though is that Kalshi and similar prediction market betting apps are parimutuel, unlike traditional sportsbooks/Draftkings etc where punters bet against the house. This greatly changes (improves) the incentives for the house, e.g. they don't ban sharks and search only for dumb money punters, they try much less to prevent you from leaving with your winnings etc. The parimutuel house just takes a flat rake percentage off the top of the sum of all bids, so they just want to maximize the amount of money wagered overall instead of doing shady shenanigans.

I'm not a prediction market user/booster nor a sports gambler, but this is a key difference and a strict improvement from traditional sportsbook apps. If our society is going to have widespread legal gambling, we strongly want it to be parimutuel.