Survey: Some Medical Students Use Kalshi and FanDuel to Help Cover Tuition

A survey of 1,000 medical students found that many are using prediction markets and sportsbooks, including Kalshi and FanDuel, to help cover tuition, housing, and other living costs.

According to the survey, conducted by Clasp between June 16 and June 28, roughly two-thirds of respondents said they use those platforms to fund their education. More than 70% said they visit them at least several times a week.

The findings also point to clear financial risk. Less than half of respondents reported consistent positive results. While one respondent reportedly won more than $50,000 and another lost a similar amount, most said their gains or losses fell between $100 and $1,000.

Clasp CEO Tess Michaels said the behavior is being driven less by entertainment and more by financial pressure. “These students aren’t betting for fun. They’re budgeting their winnings for tuition, and most are barely getting by,” Michaels said.

The survey said nearly 70% of respondents started using the platforms to pay for tuition or housing. It also found that 56% rely on other income sources, including credit cards and online creator platforms, while nearly 30% said they cannot consistently cover monthly expenses.

Michaels also pointed to structural barriers in education finance, saying some students face limited access to private loans without a creditworthy cosigner. “If you don’t have wealthy parents, how do you pay for school? Through channels like these,” she said.

The source did not provide a school-by-school or state-by-state breakdown, and it did not specify how use was divided between prediction markets, sportsbooks, or individual platforms such as Kalshi and FanDuel. It also did not say whether the survey was nationally representative.

For players, the clearest takeaway is that frequent use does not necessarily mean reliable returns. The survey describes regular platform use among students under financial strain, but it also shows that consistent profits were reported by fewer than half of respondents.

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Source: As reported by bitcoinfoundation.org.