Kalshi disputes analyst findings on prediction-market user losses
Kalshi disputed a Citizens analyst’s assessment that prediction-market users lose money faster than sports bettors. Analyst Jordan Bender’s report, based on Juice Reel data, estimated that the lowest-loss quartile of prediction-market users lost about 28 cents per dollar spent over 90 days, against 11 cents for new sports bettors; Kalshi also rejected the report’s conclusion while backing away from its earlier extortion allegation.
The dispute challenges comparisons of user losses across prediction markets and traditional sports betting.