How America Got Hooked On Sports Betting

Legalized sports betting and its prediction-market loophole have produced measurable financial harm, prompting calls for alcohol-style regulation rather than bans.

• Legalization triggered explosion: Since the Supreme Court's 2018 ruling, Americans have wagered over $520 billion on sports betting; over a quarter of adults now have a betting account, rising to more than half among young men.
• State-level data shows harm: In states legalizing betting, personal bankruptcies rose 25-30% within four years, gambling helpline calls jumped 75%, gambling disorder diagnoses rose 61%, and household investing fell 14%.

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