NATIONWIDE — A STUDY SLATED for the September 2026 Journal of Financial Economics found that online sports betting is having an increasingly negative effect on the financial health of low-savings households by crowding out saving and investing for homes and retirement and driving up debt. Similarly, a March 2026 staff report by the New York Federal Reserve Bank found auto loan and credit card debt delinquency increases of roughly 10% among bettors.
According to Semafor Business, monthly trading volume on online betting markets Kalshi and Polymarket increased from $2 billion in early 2025 to nearly $50 billion in June.
While regulated sports betting is legal in New York State, Kalshi is appealing a recent New York court decision outlawing its ability to offer unregulated sports betting here, according to arsTechnica. Polymarket is also embroiled in a similar lawsuit with New York, reports Sportshandle.
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