According to a recent study by Kalshi, nearly 90% of Americans believe they should have access to prediction markets. The surveyed respondents see prediction markets as financial investments rather than gambling, which is a view that enjoys strong bipartisan support.
Survey Results Show Overwhelming Support for Prediction Markets
Axis Research, the company that made the study commissioned by Kalshi, surveyed 1,219 voters nationwide, with responses weighted to reflect the electorate by region, gender, age, ethnicity, and political affiliation. The poll was conducted online from September 18–23, 2025, using a mix of panels to maximize reach and minimize bias.
The study showed that regardless of whether they personally participate, 89% agree that all Americans should have access and the option to decide for themselves. More than half (54%) express strong agreement with this statement. In addition, 70% of the surveyed believe Americans should be able to invest in specific outcomes, such as changes in the price of gold, election results, or agricultural futures. This support is broadly bipartisan, with 75% of Republicans and 71% of Democrats in favor, and it extends across all income levels. Even among those who have never taken part in a prediction market, support remains high at 65%.
Voters overwhelmingly view buying stocks, mutual funds, or participating in commodities markets as financial investments (89%) rather than gambling (11%). Reflecting this belief, 79% say these activities should be regulated by federal financial regulators rather than state gaming commissions. This perspective is once again consistent across party lines, ethnic groups, and among both investors and non-investors, the research results say.
Some Criticize the Study’s Results
Critics argue that, since the poll was sponsored by Kalshi, one of the leading names in prediction markets, it predictably yielded results favorable to the industry. Given the numerous state-level legal challenges Kalshi is currently facing, it’s unsurprising that the poll finds a strong majority of respondents believe event contract exchanges should fall under federal regulation.
The company has been involved in various legal troubles over the past months. For example, Kalshi has suffered a significant legal setback in Massachusetts recently in its legal battle in the state.
In addition, surveys from other agencies indicate that the real number of people who agree that Americans should have unrestricted access to prediction markets might be quite lower. For example, a recent YouGov poll shows that 44% of Americans and 31% of self-identified sports bettors believe legalized betting is hurting sports. In contrast, only 24% of bettors and 9% of the general population think it has a positive effect.