We might be causing unnecessary harm with our new addiction to gambling, says 'Losing Big' author

Industry Trends & Partnerships - Robin Hood partnered with Koshi to launch sports betting prediction markets focused on the NFL and college football [1] - FanDuel is partnering with CME Group on events contracts tied to the S&P 500, gold and oil prices, and economic indicators [1] - Prediction markets are providing a backdoor for sports betting in states like California and Texas that do not have legal licensed state sports betting [7] Regulatory Concerns & Public Health - The rapid expansion of gambling in the US over the last seven years, with few guardrails, may be causing unnecessary harm [3][4] - 50% of men between 18 and 49 have a sports betting app, and 60% of high schoolers have gambled within the last year [5] - States are claiming that Koshi and Robin Hood are offering gambling and should be responsive to state gambling regulators, not just the CFTC [9] - The American Gaming Association CEO believes that if it looks like a bet and acts like a bet, then it is a bet and should be regulated [11] Potential Solutions & Industry Self-Regulation - Adding friction to gambling platforms, such as limiting deposits and making withdrawals easier, could help prevent problem gambling [17][18] - The industry could self-regulate, but there is currently no incentive to do so [25] - Industry standards may be more effective than congressional mandates, but the threat of congressional regulation could incentivize self-regulation [26]