Americans Bet Billions on Offshore Prediction Markets

A recent report indicates that Americans are placing substantial wagers on offshore prediction markets, with estimates suggesting this activity could reach as high as $34 billion. This figure represents a significant portion, potentially nearly one-third, of the total volume transacted on these platforms. The findings highlight a growing trend in alternative investment and speculative betting, often occurring outside of traditional regulatory frameworks. This offshore activity raises questions about oversight, consumer protection, and the broader implications for financial markets and individual investor behavior.