Kalshi’s sports betting prediction market has proven to be a huge hit as it is currently reporting $249 million worth of contracts created on the Robinhood-partnered platform following the first two rounds of the NCAA College Basketball Tournament.
Its website currently lists Duke as the favorite to win the tournament, offering a buy Yes/No price of 30 cents/72 cents. Fellow No. 1 seeds Florida and Houston rank second and third, respectively. Florida’s buy is 19/82, while Houston has a 16/85 buy…
The $249 million figure is roughly 8% of the $3.1 billion the American Gaming Association estimated in legal wagering for the men’s and women’s NCAA Tournaments this year, an estimate that did not appear to contemplate the action that Kalshi customers across all 50 states might contribute.
