Polymarket and Kalshi are less regulated than betting sites, but users can win or lose large sums on the platforms

Yadin Eldar, 21, has been betting on prediction markets since 2019. His friends think he’s “crazy”, he said. But the craze surrounding these platforms is rapidly gathering steam.

Users can bet on virtually anything, from the outcome of Sunday’s Super Bowl to whether the US will invade Greenland, every second of every day.