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They are farming traction right now it would seem. The reason why people are on that platform is lack of ads. So Adsense would defeat the purpose. Not sure what other revenue model they have

Found this on the internet : Inshorts make revenue from different sources; some of the most prominent ones are listed below: Types of Advertising: To increase the variety of revenue streams, brands use display ads and sponsored content, among other forms of advertising on Inshorts. Performance Metrics: Advertisers pay according to how well their campaigns perform, and metrics like impressions (views) and interactions (likes and shares) are important in gauging how effective their ads are. Annual Contracts: In order to guarantee a consistent and predictable revenue flow for Inshorts, advertisers sign annual contracts.