India, July 12 -- A new report by the Roosevelt Institute, a New York City-based think tank, claims that regular people using prediction market Kalshi have lost nearly $600 million since the platform started in 2018. According to the report, everyday users have lost about $583.5 million while betting on different real-world events through Kalshi.

The study says many regular users do not realize they are often betting against professional traders who use advanced tools and trading strategies. The report argues that this gives professional traders a major advantage over casual users. The study was written by Brad Lipton, who is the Roosevelt Institute's Director of Corporate Power and Financial Regulation. After the report was published, K...