Oct 19, 2026 | SPORTS BETTING
Prediction markets are drawing increasing attention across the country, raising questions about where investing ends and gambling begins. These online platforms allow people to wager money on the outcome of real-world events, ranging from elections and sporting events to economic trends and world news. Supporters often describe them as financial tools or forecasting markets, but critics argue they function much like traditional gambling.
In 2026, prediction markets have become the center of growing legal and regulatory battles. Federal regulators, particularly the Commodity Futures Trading Commission (CFTC), have argued that these markets fall under federal financial oversight rather than state gambling laws. The agency has increasingly treated prediction markets as commodities trading platforms, similar in some ways to stock or futures markets.
At the same time, many states are pushing back, saying these platforms look and operate like sports betting or online gambling. State officials have raised concerns about consumer protection, addiction risks and the lack of safeguards typically required in regulated gambling industries. Several states have attempted to restrict or ban certain forms of prediction-market activity, especially contracts tied to sports outcomes.
Minnesota lawmakers have joined that effort. Earlier this year, the Minnesota Senate voted in favor of legislation aimed at banning betting-style prediction markets within the state. Supporters of the measure argued that these platforms allow people to place wagers on uncertain outcomes in ways that closely resemble gambling, while avoiding many of the rules and taxes that apply to licensed gaming operators. However, the ban was overturned by a district court. Those closely following all these cases believe it will eventually end up at the U.S. Supreme Court.
Another major development has added to concerns about the risks tied to prediction markets. Federal authorities recently announced one of the first criminal insider-trading cases involving a prediction-market platform. Prosecutors allege that a U.S. Army Special Forces soldier used classified military information to place profitable trades tied to world events. The case highlights how these platforms can create opportunities for misuse of confidential information, similar to insider trading in traditional financial markets.
The growing popularity of prediction markets also raises broader questions about accessibility and potential harm. Because many of these platforms are available online and operate around the clock, critics worry they may normalize gambling behavior or attract younger users who may not fully understand the financial risks involved.
While supporters continue to argue that prediction markets provide useful forecasting tools, opponents see them as another rapidly expanding form of gambling disguised as investing. As courts, regulators and lawmakers continue debating how these platforms should be treated, prediction markets are likely to remain an important issue in discussions about gambling policy and consumer protection.
Sep 30, 2026 | RESEARCH, SPORTS BETTING
Read the original article on The BASIS.
By Kira Landauer, MPH
Sports betting has expanded across the U.S., becoming part of the way many people engage with and experience sports. At the same time, research has linked sports gambling with more frequent alcohol use, including binge drinking, as well as alcohol-related problems. These links might emerge from the tendency for sports bettors, more than other kinds of gamblers, to drink while they gamble. This week, The WAGER reviews a study by Alexander J. Connolly and colleagues that examined how often people report drinking while gambling, including whether drinking patterns differ between sports gamblers and other gamblers.
What was the research question?
Do sports gamblers and non-sports gamblers differ in how frequently they drink while gambling?
What did the researchers do?
The researchers analyzed YouGov Opinion Polling data from 1,977 U.S. adults who reported gambling in the past six months. The sample included 628 sports gamblers and 1,349 people who gambled but did not bet on sports. Participants reported how often they drank alcohol while gambling and the percentage of their gambling time during which they also drank. The researchers used chi-square tests and independent samples t-tests to compare drinking while gambling between sports gamblers and non-sports gamblers. They also used propensity score matching to create groups of sports and non-sports gamblers with similar demographic characteristics, problem gambling severity, and frequencies of gambling and drinking (as separate activities), then examined whether differences in drinking while gambling remained between the two groups.
What did they find?
Sports gamblers reported drinking while gambling more frequently than people who gambled but did not bet on sports (see Figure). This difference remained statistically significant after the groups were matched on demographics, problem gambling severity, and frequencies of gambling and drinking. Sports gamblers reported drinking during about 39% of their gambling time, compared with 33% among non-sports gamblers. However, the difference in the percent of time spent gambling was small and was no longer statistically significant after the groups were matched.
Figure. Frequency of drinking while gambling among sports gamblers and non-sports gamblers. Click image to enlarge.
Why do these findings matter?
These findings highlight that the relationship between sports gambling and alcohol use may extend beyond people engaging in both behaviors separately. For sports gamblers, drinking may be part of the gambling experience itself. As sports betting continues to expand, understanding when and how these behaviors overlap could help prevention specialists identify and address risks associated with gambling and alcohol use. For example, safer gambling education could encourage people to consider how alcohol may affect their gambling decisions and to avoid gambling while drinking.
Every study has limitations. What are the limitations in this study?
The study relied on participants’ reports of past gambling and drinking behaviors, which may be affected by recall bias. This was a cross-sectional study, so it cannot establish whether sports gambling and drinking while gambling influence each other. In addition, the researchers asked about drinking while gambling generally, so they could not determine whether sports gamblers were specifically drinking while betting on sports.
Jul 1, 2026 | ADVOCACY, SPORTS BETTING
Minnesota’s 2026 legislative session ended with mixed results regarding gambling expansion. While the sports betting bill failed early in the session, lawmakers devoted considerable attention to proposals addressing prediction markets and online sweepstakes casinos.
A bill targeting prediction market platforms such as Kalshi and Polymarket advanced quickly through the Legislature. The measure seeks to classify certain contracts on sports, current events and other outcomes as gambling, and makes participation a felony. Supporters argued that allowing these markets to operate undermines Minnesota’s authority to determine which forms of gambling are legal, permits individuals as young as 18 to place wagers and generates no tax revenue for the state. MNAPG and the National Council on Problem Gambling maintain that these products function as gambling and should be subject to stronger consumer protections. Minnesota’s action has drawn national attention, and other states are exploring similar approaches.
In contrast, legislation to ban online sweepstakes casinos did not advance. Advocates raised concerns about their addictive potential, lack of regulation and impact on tribal gaming exclusivity, but lawmakers ultimately chose not to act.
Looking ahead, both sports betting and sweepstakes casino legislation are likely to return next year. With significant legislative turnover expected, MNAPG will continue educating policymakers about consumer protections and the need for funding for treatment, education, prevention and research.
Frequently Asked Questions
Is sports betting legal in Minnesota in 2026?
No. The sports betting bill failed early in the 2026 Minnesota legislative session, meaning sports betting remains illegal in the state.
What are prediction markets, and why are they controversial in Minnesota?
Prediction markets are platforms where individuals can wager on the outcomes of future events. In Minnesota, a 2026 bill sought to classify certain contracts on platforms like Kalshi and Polymarket as gambling, making participation a felony, due to concerns about accessibility to those under 18 and lack of tax revenue.
Are online sweepstakes casinos legal in Minnesota?
Legislation to ban online sweepstakes casinos did not advance in the 2026 session, despite concerns from advocates about their addictive potential, lack of regulation, and impact on tribal gaming exclusivity.
Apr 10, 2026 | PROBLEM GAMBLING, RESOURCES, SPORTS BETTING, YOUTH GAMBLING
We come across numerous articles about problem gambling and problem gaming. Here are a few:
The article reports that Washington State has sued the makers of the Bingo Blitz app, alleging it operates as illegal gambling and uses child-appealing content, weak age controls and aggressive in-app purchases that expose minors and other users to addiction risks and significant financial harm.
https://gamblingharm.org/bingo-blitz-app-illegal-gambling-children/
The column argues that the growing ubiquity and normalization of gambling—especially through sports betting and youth exposure—risks fostering addiction, financial harm and a cultural shift toward chasing quick wealth through luck rather than stable, meaningful paths.
https://www.startribune.com/brown-when-betting-is-everywhere-we-gamble-with-our-future/601567918
NPR's A Martinez speaks with journalist and author Danny Funt about his new book, "Everybody Loses: The Tumultuous Rise of American Sports Gambling."
https://www.npr.org/2026/01/19/nx-s1-5602138/everybody-loses-chronicles-the-rise-of-americas-sports-betting-boom
A piece by PBS on How Sports Betting is changing our Brains and Behavior, features Danny Funt and Dr. Tim Fong.
https://www.pbs.org/newshour/video/horizons/2026/02/how-sports-betting-is-changing-our-brains-and-behavior
This Teach-Out is open to anyone interested in learning more about the sports betting industry and its effects on the general population, but it is particularly relevant for young adults and their parents, athletes, educators, and policymakers looking to mitigate the effects of sports betting.
https://online.umich.edu/teach-outs/sports-betting-risks-and-ripple-effects-teach-out/
Apr 10, 2026 | RECOVERY, SPORTS BETTING, YOUTH GAMBLING
When I quit using alcohol and drugs, I thought that was the hard part. What I didn’t realize was that I had created a huge void in my life. I wasn’t getting those instant dopamine hits anymore, and I didn’t know what to do with myself. That’s when gambling quietly slipped in.
My gambling didn’t start in a casino or with sports betting like it does with a lot of people. It started, oddly enough, with clothes.
When I was in college, streetwear was big. There were online raffles for limited-edition clothing. You’d throw in $10 or $25 for a chance to win something worth a lot more. I started doing those raffles all the time. If I won, I’d try to resell the item. Before long, I was doing this every single day—including watching the raffle videos—while having basically no money. That should’ve been a red flag, but I didn’t see it that way at the time.
I did the clothing raffles for about two years and then stopped gambling for about a year. Then I started playing fantasy football with friends and things gradually progressed. I started doing future bets, like whether a team would win the championship or how it would do for the whole season. Then it became point spreads and over/unders for individual games. Then it became in-game live betting. That all felt “manageable,” at least compared to what came next.
My sports betting got worse. DraftKings wasn’t what it is today, so I used an illegal offshore site. It started small with $5 and $10 bets, but gradually turned into betting every day, multiple times a day. I was betting on games I didn’t even watch or know anything about, like baseball games in a league on the other side of the world. That made it harder to lie to myself that this was just for fun.
What really pushed me over the edge was online casino gambling. While watching sports, I started clicking into online casinos on my phone for fun. I quickly went through five-dollar slots and started chasing my losses. Then I’d lose $100 trying to get it back on roulette or blackjack. I started using money I didn’t have—dipping into credit cards and debit cards. I wasn’t paying rent and was barely eating. I had a decent job and still couldn’t afford to live.
I was living with my girlfriend at the time, as gambling slowly took over my life. I’d get home from work and watch games from 4 p.m. until midnight instead of spending time with her. She had no idea how bad it was. When she eventually broke up with me and moved out—taking the dog—I couldn’t afford the apartment on my own because of gambling.
I had only been to one or two GA meetings at that point, so I didn’t really have a GA program. I asked someone in AA if they knew anyone who had been to GA, and I got connected with someone who offered to take me to a meeting. He became my GA sponsor. I thought it would be just like AA—and at a high level it is—but it’s clearly different because I couldn’t manage my gambling addiction as well as I managed my alcohol addiction.
I was surprised how few young people were in the GA rooms. Given how much I know younger people are gambling, particularly on sports, I’d expected more people in their 20s and 30s. I found that many of the people went to live casinos and played a lot of scratch-offs, activities I think are less common in my age group.
As I look back on my gambling, I wasn’t really chasing wins; I was chasing a feeling. I don’t even remember having many big wins. No win ever felt that good and every loss felt awful. I just wanted to feel something, or avoid being present in my own life.
After I stopped gambling almost two years ago, I couldn’t watch sports for a long time. I’d always think, “I would’ve won that if I’d bet.” Eventually, I was able to watch again, but the ads are everywhere now. I honestly can’t imagine trying to quit for the first time today with all those reminders.
I just turned 30. I still get urges to gamble more than I ever get urges to drink. Gambling ads hit me in a way alcohol ads don’t. I also see how normalized betting has become, especially for younger people. My little brother is in college, and betting is just part of the culture—everyone seems to be doing it. I try to keep the door open so he knows he can talk to me if it ever becomes a problem.
Thankfully, life today is much more manageable. I know my brain is always going to look for something, so I try to channel that energy into healthier things—running, relationships, being present. I’m not perfect, but I’m honest now. And that makes all the difference.
If any of this sounds familiar, I promise you’re not alone—and that there is hope. Help is out there. Recovery doesn’t make life perfect, but it does make it livable—and for me, that’s more than enough.
Jan 29, 2026 | PROBLEM GAMBLING, RESEARCH, SPORTS BETTING, YOUTH GAMBLING
Read the original article on The BASIS here.
By John Slabczynski
As legalized sports betting grows in popularity, public health experts have raised concerns about its potential harms. As advertisers and sports leagues continue to make gambling a key part of spectatorship, this could normalize betting as a natural part of sports fandom. Previous research suggests that these practices are contributing to an increase in gambling problems, particularly among young adults. To better address these concerns, public health advocates need to understand the specific problems associated with young adult sports betting. This week, The WAGER reviews a study by Nerilee Hing and colleagues that explored young adult sports bettors’ experiences of gambling harm and their perspectives on changing their gambling behavior.
What were the research questions?
(1) How do young adult sports bettors experience gambling harms? (2) How do they conceptualize and engage in changing harmful gambling?
What did the researchers do?
The researchers recruited 50 Australians between the ages of 18 and 25 who reported experiencing moderate or severe harm from sports betting in the past year. Participants completed interviews with the research team that asked about the nature of sports betting-related harms they experienced, perceived barriers and facilitators of gambling behavior change, and strategies they used to change their gambling. The researchers then coded the transcribed interviews to identify relevant themes.
What did they find?
The interviews revealed five distinct types of sports betting-related harm: 1) financial harm, 2) harm to mental health, 3) harm to work or study, 4) relationship harm, and 5) harm to physical health. Participants reported that many of these harms built up over time and intersected with one another. For example, several participants indicated that financial harms grew over time, and that these harms worsened their mental health. At the time of interviews, some participants were unwilling to change their gambling behavior. Others, however, pointed to improved knowledge of gambling disorder and an awareness of gambling harms as key factors in choosing to change their harmful behavior (see Figure).
Figure. Displays participant quotes representing each theme identified through thematic analysis. Click image to enlarge.
Why do these findings matter?
Information on the types of harm experienced by young adult sports gamblers can help public health practitioners identify potential gambling problems quickly and accurately, allowing for timely intervention and support before more significant harms happen. This study’s findings on behavior change are especially important. Many participants emphasized the value of awareness of gambling as an addiction as a catalyst for behavior change. Initiatives such as The Faces of Gambling that highlight how gambling problems develop from the perspective of people with lived experience may be especially effective in reducing the prevalence of gambling harms.
Every study has limitations. What are the limitations in this study?
This study screened participants for a history of experiencing gambling harms using a list of previously researched harms, which may have primed the sample to report these very same types of harm. Similarly, because the study focused on moderate to severe cases of gambling disorder among young adults, the results of this study may not be generalizable to those who experience less severe forms of the condition, or the wider gambling population.
