John Arnold commits $2.6 million to research risks of online sports betting
By
Justin Papp
Summary
Billionaire philanthropist John Arnold is awarding $2.6 million in grants to researchers at universities and think tanks to study the potential harms of online sports betting, which has expanded rapidly since becoming legal in the U.S. in 2018. The research will examine the effects of gambling on financial well-being, household formation, and mental health, focusing on the rise of prediction market platforms like Kalshi and Polymarket, as well as mobile betting apps like DraftKings and FanDuel.
Source
bskyJohn Arnold commits $2.6 million to research risks of online sports bettingcnbc.comKey quotes
· 3 pulledBillionaire philanthropist John Arnold says online sports betting has changed immeasurably since it became legal in the U.S. in 2018, thanks to the rise of online prediction market platforms Kalshi and Polymarket and mobile apps like DraftKings and FanDuel.
To better understand the potential risks, he's awarding $2.6 million to researchers studying the evolving world of gambling on sports.
The grants will go to researchers at universities and think tanks to look at the effect of gambling on financial well-being, household formation, mental health and co
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