"Complete blurring of the line": The dangers of prediction markets and sports betting

The business of sports betting and prediction markets is continuing to grow. 

LeBron James is the latest major name to land a deal in the industry, signing a $15 million a year endorsement deal with Polymarket - nearly four times his NBA salary this season.  

But the fast growth of the sector and ability to bet on anything is sparking some concerns. 

American Institute for Boys and Men Gambling Policy Lead Jonathan D. Cohen argues that prediction markets may be more dangerous than traditional gambling platforms in some respects, as they blur the line between gambling and investing in some countries. 

He told Mike Hosking a 19-year-old who's starting to build wealth could easily delude themselves into thinking it's a wise financial decision, and that's really dangerous for the long-term financial well-being of young people.  

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