Prediction markets have become a draw for young men. Here's why

MoneyWatch Prediction markets offer the lure of fast money. Young men say they like their odds. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Mary Cunningham Mary Cunningham Reporter, MoneyWatch Mary Cunningham is a reporter for CBS MoneyWatch. She previously worked at "60 Minutes," CBSNews.com and CBS News 24/7 as part of the CBS News Associate Program. Read Full Bio Mary Cunningham June 6, 2026 / 9:00 AM EDT / CBS News Add CBS News on Google Earlier this year, Thomas Christian Owens decided to try his hand at prediction market trading for the first time. He created a Kalshi account in January. Three months and a $500 deposit later, he started betting."It was a little bit of a birthday gift to myself to throw some money in there and just have some fun," the 29-year-old manufacturing engineer told CBS News.Owens wasn't expecting to make a killing. He told CBS News that he wanted a little extra money in his pocket to support himself and some of his family members. He had some early successes, but just over a month after he started trading, the Oklahoma City resident found himself in the red.Young men like Owens say they are drawn to prediction markets in search of thrills, fast money and in some cases, financial security. Close to 40% of young men between 18 and 34 use prediction markets, according to an April survey from Navigator Research, a public opinion research organization. On Kalshi, one of the leading prediction markets in the U.S., roughly 3 million of the platform's 4 million active users are male. Six in 10 of the platform's total users are between the ages of 18 and 34. Prediction markets have recently drawn scrutiny for alleged insider trading — with men at the center of several high-profile cases. That includes a Google employee who was accused of allegedly making more than $1.2 million on Polymarket betting on confidential company information.  A U.S. special forces soldier...