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Why prediction markets may be bad for your wallet—and your mental health

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The parallels to casinos are drastically obvious. Prediction markets are all the rage right now. Weekly trading volume on prediction platforms just surpassed $2 billion, and apps like Polymarket are being treated as the “next big thing” in consumer finance and entertainment. These platforms are designed to gamify uncertainty by exploiting the same cognitive biases as gambling and day-trading, quietly pushing users toward overspending, emotional volatility, and compulsive checking.