Truth be told, I don’t get disturbed by much. But this headline/story from Bloomberg was one that made me rub my temples in dismay:
Gen Z Is Moving Money From Stocks to Sports Betting in Wealth Plans: About 26% of Gen Z investors born between 1997 and 2007 said they treat sports betting as a deliberate, ongoing component of their financial plans, according to an online survey of 1,000 US retail investors published Wednesday. That’s compared with about 14% of millennials (born between 1981 and 1996), 6% of Gen X (born 1965 to 1980) and 1% of baby boomers (born before 1965).
I am not sure where to start with all of this, other than this seems like a pretty terrible development.
Can people win at sports betting either in 1. the short term or 2. the long term? 1. Yes, it’s possible. 2. The percentage of people capable of winning long term at sports betting — either at sportsbooks or prediction markets — is exceedingly small.
The story doesn’t specifically mention prediction markets (it does talk about someone’s use of Robinhood), but I don’t think it’s a stretch to think PMs are a part of this trend. They are marketed as “trading” and “not gambling;’ as a side hustle; or as a way to pay the rent. This, of course, is one of the things I am constantly going on about at my newsletters and on social media.
It is a dangerous trend. The vast majority of people that are betting on sports — no matter the venue — should not be betting on sports thinking they will make money. It should not be part of your “financial strategy” other than budgeting how much you are going to donate to sportsbooks or market makers.
If you are betting at a sportsbook, you should probably be doing it for fun and only with an amount of money you can afford to lose.
If you are betting at a prediction market, you should probably be doing it for fun and only with an amount of money you can afford to lose.
It feels like we are at a moment where financial literacy and gambling can go very sideways, and this story underlines that idea. Gambling is not a way to get ahead. And it should not be marketed as such.
Trusted Voices: Conversations About Betting is designed to equip adults, including parents and coaches, with tools and resources to talk to young people about gambling, including information on warning signs, risks and proxy betting. The program is led by retired professional basketball player Randy Livingston and his wife, basketball agent Anita Smith, who share their personal stories related to problem gambling, with the hope of preventing others from experiencing similar harms. Learn more and join the conversation here.
“ProhiBet, a tool used by the NCAA to monitor sports betting, alerted Mississippi State on Feb. 8, the same day as the Super Bowl, that an athlete had placed a Super Bowl wager on Kalshi. The bet was $50 on which team would win between the Seattle Seahawks and New England Patriots.”
"The second football player was caught one week later betting on the NBA All-Star Game and 3-point contest using Kalshi.”
🔍 NCAA bylaws don’t include any language specific to prediction markets, but it’s clear that the body sees them as a form of sports wagering—even the Mentions markets associated with broadcasts. It’s somewhat ironic that the infractions occurred in Mississippi, a state where lawmakers have cited the prevalence of gambling on college campuses as a reason to maintain the current prohibitions against online sports betting.
With first-chair trial experience and a record of success in complex disputes across federal and state courts and in arbitrations, Kim Conroy is Ifrah’s cross-firm coach for crafting and executing complex litigation strategies. She teams up with both senior and junior lawyers to strengthen their cases with procedural insights and time-tested tactics. Kim also is called upon to assist with bet-the-company cases involving institutional and individual clients, including iGaming operators facing novel legal onslaughts.
“The three-member commission has been without a chairperson since January, and President Donald Trump has not nominated a successor. Federal law places key enforcement authority with the chair, preventing the agency from carrying out functions including certifying casino management agreements, approving new tribal gambling laws, citing certain legal violations and ordering emergency closures of unsafe facilities.”
“The majority of comments were against the proposal, sharing concerns over potential data breaches, the need to provide any form of personal biometric data when account verification already requires a social security number and valid ID, and increased difficulty of accessing accounts for responsible players.”
Will FanDuel Predicts catch up to prediction markets rivals? (SBC Americas): “CFO Rob Coldrake acknowledged that the rollout of FanDuel’s prediction markets product has been slower than planned. He added that Flutter will need to assess where its Predicts product is by the end of the year before the company, which will then be led by Dan Taylor as CEO, decides how much more money to invest in it heading into 2027.”
CME Group to Launch World's First NHL Futures Based on CME FutureSports Performance Indexes on September 28 (press release): CME Group, the world’s leading derivatives marketplace, today announced it will launch the world’s first index-based Hockey futures on September 28, pending regulatory review. The new contracts will track CME FutureSports Performance Indexes that include exclusive, real-time National Hockey League (NHL) statistics beginning with the 2026-2027 season.
CME Group Hockey futures will be available in standard-sized contracts, valued at 10x the value of the underlying CME FSPI NHL indexes, and micro-sized contracts that are 1/10 the value of those indexes. Participants can trade live around the clock, allowing for immediate positions on a regulated exchange with central clearing safeguards, transparent pricing and equal market access.
Latest newsletter and roundup at The Event Horizon:
FanDuel Likes The Over On Sportsbook Growth During NFL (Legal Sports Report): “FanDuel sees signs U.S. sports betting could grow faster than it expects this football season after finding success with its revamped promotional strategy during a uniquely compelling summer of sports. Flutter Entertainment’s lowered second-half outlook assumes about 5% year-over-year growth in US online sports betting revenue, CEO Peter Jackson revealed Tuesday.”
“Would I tend to take the over on that at the moment? Yeah, probably, but we want to be conservative,” Jackson said during a fireside chat with Oppenheimer.
“Mob films have popularized the rat as a symbol of the reviled government informant. In Brooklyn federal court on Tuesday, prosecutors said the post was part of a striking pattern by the man, De’Niro Laster, to intimidate witnesses and obstruct justice. Prosecutors said Mr. Laster had learned about statements that anonymous witnesses had made to the government.”
Everton’s Sherif charged with 61 alleged bets on matches (BBC): “The Football Association has charged Everton forward Martin Sherif with allegedly breaching betting rules over 15 months. The 20-year-old is accused of placing 61 bets on games between 20 November, 2024, and 12 February, 2026.”
Casino Reports published the first two entries in its five-part Compliance Confidential series:
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PredictionMarketPulse@PredMPIt appears @fliff has plans to join the event contracts party - new FCM application filed this afternoon (in addition to Swap Firm/NFA membership). nfa.futures.org/BasicNet/basic…
7:44 PM · Aug 12, 2026 · 1.7K Views1 Repost · 5 Likes
