Kalshi, Polymarket Seek Young Female Users Through Social Media

So-called “prediction” betting platforms, which allow registered users 18 and over, are apparently seeking to grow use among a younger female audience.

Kalshi and Polymarket, the two leading companies in the space, have each launched and/or officially endorsed social media accounts geared toward female users in recent weeks.

Polymarket appears to have been first, with a “@PolyBaddies” account on X (formerly Twitter) having launched in September. Kalshi followed in October with “@KalshiGirls”.

At the time of writing, @PolyBaddies had over 2,100 followers, while @KalshiGirls had fewer than 100. Both accounts had social media “badges” to signal company support.

Polymarket CEO Shayne Coplan was not following @PolyBaddies, though the company’s primary X account was following. Kalshi CEO Tarek Mansour was following @KalshiGirls.

Each of the accounts had a network of company-affiliated influencers posting content about the respective products. While most of the content appeared relatively harmless, one Polymarket-badged account said she put her last paycheck into the platform.

Why it Matters

Both prediction betting platforms have seen a surge in sports gambling volume in recent weeks. It appears that sports will be the main growth driver for the sector. Kalshi was recently valued at $5 billion, and Polymarket hit a $9 billion valuation in October.

While some female users bet on sports, prediction gambling platforms also allow wagers on pop culture events, such as the popularity of Taylor Swift’s new album.

No U.S. state allows its licensed betting apps to offer bets on Taylor Swift, though some states have allowed betting on awards shows like the Oscars. States with legal sports betting have sought intervention from the courts to block what they argue is unregulated and illegal sports gambling on prediction platforms.

As the legality of Kalshi and Polymarket plays out in the courts, the race is on to acquire new users as quickly as possible and justify the lofty valuations. In June, ESPN reported that Kalshi said it had about 2 million users. 

Whether it’s sports or pop culture, betting on prediction websites can cause harm. Any form of gambling can cause addiction, especially when done through a mobile app.

Parents of teens and young adults should be aware of the financial and addiction risks of these platforms. Kalshi and Polymarket are aggressively pursuing young female users via social media.