Buffett Warns on Gambling Culture as Kalshi Defends Prediction Markets

According to a CNBC interview, Warren Buffett recently expressed concern that America's speculative trading culture is undermining long-term investing. "It's tough to find values when everybody is preferring gambling," he said, adding that financial incentives favor cultivating gamblers over investors.

Meanwhile, Kalshi CEO Tarek Mansour defended prediction markets at Axios House DC on Tuesday, arguing that users perceive conventional markets as rigged. Kalshi has launched perpetual futures allowing bets on asset price movements. The company appeared Wednesday at a Capitol Hill press conference supporting a bipartisan bill requiring facial recognition for age verification on prediction markets and sportsbooks, and recently joined the National Council on Problem Gambling.