Published on: March 17, 2026, 10:38h.

Updated on: March 17, 2026, 10:38h.

• When provided with choices, bettors prefer DraftKings sportsbook over Kalshi sports event contracts.
• In states where prediction markets are the sole option, Kalshi performs relatively well against other prediction markets.
• Most users of prediction markets possess college degrees, with nearly half earning at least $100K annually.

In regions where voters can choose between online sports betting and prediction markets, a majority of bettors lean towards online sports betting, primarily opting for the DraftKings (NASDAQ: DKNG) sportsbook instead of Kalshi, which is the top-rated prediction market.

According to a fresh survey on prediction markets conducted by Truist Securities, about 20% of respondents identified the DraftKings sportsbook as the top product that encompasses both online sports betting and prediction markets, followed closely by Kalshi at 17%. FanDuel sportsbook came in third with 15%.

“Preferences varied, with 39% citing the overall experience, 19% mentioning success rates, 13% for the best interface, and just 11% for rewards,” stated Truist analyst Barry Jonas.

When bettors and traders were questioned about their preferred prediction market platform, they favored Kalshi over other options provided by sportsbook operators.

“Kalshi (17%) was perceived as offering the premier prediction market product, trailed by DraftKings Predictions (8%), Polymarket (7%), and Robinhood PM (5%), with FanDuel Predicts lagging at 4%,” added Jonas.

Positive Insights for Sportsbooks in the Prediction Market Rivalry

The sentiments expressed in the Truist survey align with other recent findings suggesting that in states where sports betting is legal, sportsbooks have a competitive advantage. Flutter Entertainment (NYSE: FLUT) CEO Peter Jackson recently commented on the lack of evidence for prediction market encroachment in states where FanDuel is operational and legal.

“As with our previous analysis, our survey saw the highest response rates from states where online sports betting is prohibited (CA- 16%, TX – 9%) and FL- 7%,” Jonas continued.

Florida’s sports betting market isn’t competitive, as only Hard Rock is permitted to provide this type of wagering. Interestingly, there was a geographic revelation in the Truist survey, with 9% of New Yorkers utilizing prediction markets, a noteworthy figure given that New York boasts the largest legal sports betting market in the US.

Importantly for the sports betting sector and stakeholders, respondents in states where sports betting is currently illegal indicated they are likely to transition from prediction markets to traditional sportsbooks once those states legalize sports betting.

Demographics of Prediction Market Users Differ from Expectations

Despite prevalent discussions about young men being particularly susceptible to the hazards of prediction markets and sports betting, users of prediction markets tend to be older than previously assumed. The Truist survey revealed that only 5% of prediction market users are aged 21 or younger.

“The majority of users fall within the 22-49 age range, with the largest group being between 30-39 years old (36%), followed by 40-49 (31%) and 22-29 (21%),” the survey reported.

A significant proportion of retail event contract traders have at least a higher education background, with 46% earning a minimum of $100,000 annually.

“31% of respondents reported holding a bachelor’s degree, 26% a graduate degree (Master’s, PhD, JD, MBA), 25% had some college/associate degree, and 19% had a high school diploma or less,” noted Jonas. “Our survey also illustrated that 37% of respondents had an annual household income between $50,000-$99,999, 30% between $100,000-$149,999, and 16% reported earnings of $150,000-$249,999. Only 4% claimed annual incomes surpassing $250,000.”