Billionaire John Arnold has already donated nearly half his wealth. Now he’s funding a hunt for the health risks of sports betting.

Billionaire John Arnold and his wife have donated over $2.3 billion to causes like criminal justice and education. Arnold Ventures, their foundation, is now funding $2.6 million in research grants to 12 universities and think tanks to study the health and societal impacts of sports betting, focusing on financial well-being, mental health, and policy solutions. The research excludes prediction markets due to limited data access.