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The committee also heard from Brianne Doura-Schawohl, a nationally recognised problem gambling expert. One study cited by Doura-Schawohl found that 52% of Gen Z respondents include sports betting and prediction markets as part of their long-term financial plan.
She also criticised a Kalshi competitor for offering a function that allows minors over 17 to link an investment account with the ability to buy and sell event contracts. A former legislative director for the National Council on Problem Gambling, Doura-Schawohl described the opportunity as “very dangerous” for teenagers susceptible to harm.
Beyond Texas, Kalshi made history on Friday when it became the first prediction market to sign a partnership with a federally recognised sovereign nation.
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The first time I walked into an iGaming conference was daunting. I knew next to no-one in the industry and, as far as I knew, no one knew me. I was an outsider in every sense, representing an unknown product in an industry I believed would be resistant to change.
While this initially seemed terrifying, I quickly discovered that this outsider status was a gift. It has allowed me to view the industry through fresh eyes. I do not have any preconceptions about companies or products. This has become my superpower, allowing me to analyse the industry without bias and, hopefully, help shape its future.
iGaming was not the industry I set out to work in. Before 2021, I worked in finance and business – agro companies, management consultancy and investment funds, none of which were remotely linked to the industry.
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Peter Kesitilwe, CEO of the AiA, added: “SmartSoft already has significant exposure to African markets, and we look forward to working with their team on issues ranging from B2B licensing and market access to responsible gaming, channelisation and sustainable regulation.”
The AiA said this was the latest example of its objective of bringing industry stakeholders into “constructive dialogue” as Africa’s gambling market develops.
“Our aim is to create an environment in which regulators, operators and suppliers can engage constructively on the opportunities and challenges facing the industry across the continent,” Kesitilwe stated.