Polymarket, Kalshi and prediction markets seen from Austria
Platforms such as Polymarket and Kalshi let users bet on almost anything, from election outcomes to outdoor temperatures on a given day. The operators argue that they run financial instruments, not gambling. From an Austrian perspective this construction is to be approached with caution. For a substantial share of the bets chance prevails over skill, which makes a classification as unlicensed gambling plausible. For players this opens up recovery prospects without exposing them to penalties for participating.