Posted on: May 13, 2026, 07:34h.
Last updated on: May 13, 2026, 07:34h.
- Baptist Health South Florida says prediction markets, sports wagering can have mental health consequences
- Accessibility is part of the problem
- May is National Mental Health Awareness Month
May is National Mental Health Awareness Month and one healthcare organization is taking the opportunity to call attention to the mental health consequences associated with prediction markets and online sports betting.
In a new report, Baptist Health South Florida notes the recent emergence of yes/no exchanges and the proliferation of legalized sports wagering is changing how some people interact with money, including increased risk-taking and compulsive behavior, both of which can have dire mental health consequences. The healthcare group says part of the problem is increased accessibility.
Accessibility is one of the biggest changes we’ve seen,” observes Rachel Rohaidy, M.D., a psychiatrist with Baptist Health Miami Neuroscience Institute. “When gambling moves from a destination to something in your pocket, the barrier to entry disappears, and so does the natural stopping point.”
Sports wagering is legal in 39 states and Washington, DC while prediction markets, at least for now, are available in all 50 states.
Prediction Markets Present Illusion of Control
In fairness, not all prediction market traders or sports bettors suffer from mental health issues. However various studies indicate that younger people, particularly young men, are vulnerable to the perception that betting or trading event contracts can supplement or replace their incomes.
“People may believe they’re making informed decisions, but the emotional and behavioral patterns can mirror those of traditional gambling,” said Wald in the report.
Some prediction market critics claim the industry frames itself as offering sophisticated financial products when in reality it’s no more than sports betting by a different name, according to the naysayers. As so many critics have noted of late, Wald says the lines between betting and investing are increasingly blurred.
Understanding the Dopamine Effect
Whether the prediction market and sports wagering industries are doing so intentionally is for courts and experts to decide, but these companies are effective at triggering dopamine release in users. In simple terms, dopamine is the brain’s chemical rewards center and is a major point of emphasis in addiction treatment.
In the cases of trading and wagering, dopamine can be released not just through a winning ticket, but in anticipation that a bet or an event contract will go the right way. That’s problematic for compulsive bettors and traders because some end up in positions where they’re chasing “highs” as much or more than they’re seeking positive financial outcomes.
“We often see patients who aren’t chasing the money as much as they’re chasing the feeling — the excitement, the distraction, the temporary escape from stress,” said Rohaidy in the Baptist Health report.
Recent Comments