Kalshi’s Growth Puts Prediction-Market Safeguards Under Scrutiny

A Pennsylvania man who self-excluded from DraftKings and FanDuel after bankruptcy later found Kalshi through an Instagram ad and lost more than $25,000, NPR reported. Identified by his middle name, Thomas said he began betting on DraftKings and FanDuel during the pandemic, mostly on football and tennis parlays. Over several years, he accumulated about $75,000 in credit-card and personal-loan debt and lost more than $50,000 on online sportsbooks.