Prediction markets are big among young people—but most are losing money. Nearly a third (32%) of Gen Z and a quarter (24%) of Millennials are considering or already have money in prediction markets or sports betting, compared to 17% of all U.S. adults. But according to a Bloomberg analysis, more than 100K accounts have lost out on at least $1K on Polymarket alone—more than double the number who have won as much money. Other researchers from France and Canada discovered that over 69% of Polymarket accounts have lost money since 2022. Despite this, betting on awards shows or sports matches feels like a fun and easy path to wealth for young people, gamifying risky “investing.” YPulse data shows that 35% of 18-39-year-old sports fans said they know someone who is addicted to sports betting, and prediction markets may be on path to a similar issue. (CNBC)
👀 Read more from YPulse: Is Sports Betting a Problem for Gen Z Men?
