Why America Can't Afford To Stop Gambling

[_NOBODY_]

Why America Can't Afford To Stop Gambling



The biggest sports betting advertiser in America isn't FanDuel, it's Kalshi, and not one of its 5.2 billion ads had to carry a gambling warning. This covers Robinhood earning more from prediction markets than stocks, the New York Stock Exchange owner putting two billion into Polymarket, Penn National buying Barstool for $163 million, New York suing Kalshi and losing to a federal agency, the SAFE Bet Act, $72 million spent on both parties, and the 20 cents of every dollar bet that comes out of savings. If you're tired of hearing Gen Z is just bad with money, watch this.

Chapters:
00:00 Intro
01:32 Everyone Who Couldn't Say No
11:43 Why Nobody Can Stop It
17:49 The Last Bet Left

 

[atmi_bum]

Living in the US for most of my life, I have seen that the US has always had a gambling problem. I live in Massachusetts. For such a small state, it tops the list of states that spend about $900 a year per person on the lottery. It generates $6 billion a year for the state.

That's that. Then there are the online sports gambling sites, mostly sports, but including Kalshi and Polymarket, where you can bet on anything you want. I've never seen anything like it. People were gambling on sports before it was legalized through bookies, or going to casinos that allowed it, or going offshore. Now, all you need is an app on your phone.

You could ban it again, but I believe the genie is out of the bottle.

 

[ChineseTiger1986]

Their biggest gambling right now is the large language model.

 

[MH.Yang]

The greatest characteristic of capital is greed. As long as there is profit, it will sell you the rope that strangles it. Let alone highly profitable industries like gambling, drugs, and prostitution. While the United States is a country controlled by capital; a financial company disguised as a country.

 

[El Sidd]

It's a free world.

People should be more sympathetic towards individual and collective wisdom of others.