About this app
How to play Its Bananas
The first was direct marketing (emails, texts, push notifications). Citing randomised studies, the committee noted that limiting direct marketing resulted in reduced betting and fewer short-term harms.
Referencing an Australian study on direct marketing and its link to gambling harms, Dr Philip Newall, senior lecturer at the University of Bristol noted that “causality was established by getting a random subset of participants to opt-out of receiving direct marketing offers”.
It was found that “this group then self-reported significantly lower expenditure and harms [ … ] over the next two weeks”.
About Its Bananas
Many sports bettors are unfazed by the high-stakes financial reality of gambling on sports.
U.S. News reported that only 17% conceded sports betting is negatively affecting their financial health. By contrast, twice as many respondents (34%) claimed gambling on professional and college sports has had a positive impact on their finances. About half (49%) reported that sports betting has not impacted their bank accounts either way.
Some respondents, however, shared severe personal consequences.
How to play Its Bananas
There are no SCOTUS-prediction market contracts currently on Kalshi but Polymarket lists a 41% probability that the court will accept an event contract case by 31 December.
A hearing before the Supreme Court would be the culmination of what has been the biggest sports betting-related development since PASPA. Perhaps no other issue has united gaming stakeholders from various companies, tribes, states and regulators.
Beginning with the US presidential elections in November 2024, when prediction markets catapulted into mainstream culture, their rise has been undeniable. Kalshi and Polymarket have seen their valuations balloon to $40 billion and $21 billion, respectively, and the majority of the top US bookmakers have scrambled to expand into the prediction space in various forms, either by building their own exchanges, acquiring existing ones or engaging in market-making.
