According to Bloomberg, parlay bets on the prediction market platform Kalshi have resulted in approximately $294 million in losses for bettors. Retail traders tend to bet on low-probability, high-return multi-leg combinations, where missing any single outcome leads to a total loss. Meanwhile, professional traders profit by taking the opposing side of these bets. The report cites an example where a popular World Cup final parlay had an implied probability of just 2.7% at the start of the match. The publicly available data does not disclose the specific time frame for these losses. Recent research also found that Kalshi's cross-event parlay prices are systematically overestimated compared to the product of individual probabilities, with the premium becoming more pronounced as the number of legs in the combination increases. https://(wublock123.com)/news/retail-traders-lose-294m-on-kalshi-bets-65468