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A new survey suggests prediction markets are drawing attention faster than they are earning public trust.
FGS Global said its online survey of 2,030 sports fans found that only 13% of respondents currently use a prediction market platform. At the same time, 21% said they had never heard of prediction markets, and 33% said they were aware of them but had no interest in trading.
That matters for gambling stakeholders, including in New York, because prediction markets continue to sit near the intersection of sports betting, federal oversight, and state-level gambling policy.
Awareness is still limited, and many respondents view the products negatively
According to the report, 43% of respondents believe prediction markets will have a negative impact on society, compared with 28% who said they will have a positive impact.
FGS Global wrote that "prediction markets have moved into mainstream conversation ahead of public trust." The firm said the results show awareness remains uneven even as the products receive growing media attention.
The survey was conducted with research firm RepData between April 29 and May 8. FGS Global is a New York-based advisory and communications consultancy and a subsidiary of KKR & Co.
Respondents showed little agreement on how prediction markets should be regulated
The survey also found no clear consensus on oversight. When asked how prediction markets should be regulated, 26% said a federal agency such as the Commodity Futures Trading Commission should regulate them nationwide. Another 25% said state legislation was the best approach, while 23% said Congress should pass federal legislation. A smaller 7% said President Donald Trump should take executive action.
One point of broader agreement did emerge: 81% of respondents said they want regulatory measures in place for both traditional sports betting operators and prediction markets.
That split helps explain why prediction markets remain part of ongoing legal and regulatory disputes. For New York readers, the practical takeaway is that the rules governing these products are still unsettled, even as they become a bigger part of the national gambling conversation.
A separate Meredith Poll cited in the report found similar unfamiliarity in North Carolina, where 47% of registered voters said they were unfamiliar with prediction markets. The poll surveyed 1,022 registered voters from July 1 to July 8.
For now, the clearest signal from the new survey is that adoption remains limited, trust is still developing, and the debate over who should regulate prediction markets is far from settled.
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Source: As reported by sbcamericas.com.
