He was banned by betting sites, and filed for bankruptcy. Then he relapsed on Kalshi
A man struggling with a gambling addiction shares his experience of falling into debt through sports betting apps and subsequently relapsing on a prediction market platform called Kalshi. The story highlights the ease of access to digital gambling and the personal toll of addiction.
Why it matters
The rise of online sports betting and prediction markets has raised concerns about consumer protection and the potential for increased financial instability among vulnerable users.
Nicholas Teodoro for NPR During the pandemic, Thomas thought he would give DraftKings and FanDuel a try. Before long, he formed a habit.
"I could have ten drinks one night and then be fine with not drinking again for a year," said Thomas, 35, who asked to be identified by his middle name fearing his problem gambling history could affect his career. "But sports gambling was different. It really got me."
He never cared much for sports. Yet betting on games seemed like an easy way to make a buck. He started placing wagers on football and tennis mostly using parlays, which are difficult-to-win bets that require multiple things happening in one game in order to land an enticing payout.
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