alt Hacker News>Kalshi and Polymarket are mainly just sportsbooks.
How? They sell contracts between two users. One side each. Completely different from a sportsbook where users are betting that the lines they set are not correct.
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superfrank • today at 3:32 AM
90% of the betting volume on Kalshi is betting on sports. I know how prediction markets work and how they're different that traditional sportsbooks, but they ultimately allow customers to do the same things.
If you are saying Kalshi isn't a sportsbook because the house isn't on the other side of the bet, you might as well argue that DraftKings isn't a sportsbook because they don't actually track your wagers in a book.
Whether the people betting on the sports are betting directly with each other or not is a very small difference.