Prediction markets claim they’re unlike sportsbooks. For gambling addicts and clinicians, it’s all the same

The rise of prediction markets has ignited a debate over their regulation, with operators arguing they should be treated like stock exchanges, while others believe they should be regulated like sports gambling platforms. This debate is unfolding in courts and legislatures across the country. Meanwhile, clinicians treating gambling disorders are concerned about the impact on their patients, as prediction markets can lead to similar addictive behaviors as sports betting. Two individuals, a soccer coach and a tax accountant, shared their experiences of relapsing into gambling through prediction markets after attempting to block themselves from sportsbooks. Their stories highlight the challenges faced by those struggling with gambling addiction, as the cycle of anticipation and action remains consistent across different platforms. Dr. Cynthia Grant from Birches Health likens these platforms to different doors leading to the same room, where the experience of addiction feels familiar regardless of the label. QUESTION: How might the regulation of prediction markets impact individuals struggling with gambling addiction?