Sports betting takes a financial toll

A study shows sports betting worsens financial health by reducing savings and increasing debt, with bets crowding out investments in housing and retirement. Betting platforms like Kalshi and Polymarket saw trading volumes surge from $2 billion to $50 billion between early 2025 and June, correlating with rising consumer-loan delinquencies and decreased stock investment. Billionaire John Arnold has called for political action to address the issue.