NCPG urges prediction markets to help promote the national helpline

The National Council on Problem Gambling (NCPG) has urged prediction markets to help promote the national helpline meant to curb gambling-related harm, aid people in distress, and refer at-risk and problem gamblers to the treatment and help resources available to them locally.

With prediction markets reportedly taking as much as $1.2bn in trades on the Super Bowl alone, compared to the $1.76bn projected by the American Gaming Association for traditional sportsbooks, the non-profit organizaiton believes that prediction markets can do a lot to drive the message home with sports fans. According to the NCPG, prediction markets also carry similar levels of risk when it comes to spending money on events based on chance, comparing them to traditional sportsbooks. The NCPG insisted that any operator offering gambling-like products should offer meaningful, visible steps to reduce harm and promote access to help resources as a public health best practice. The issue with this argument is that prediction markets have repeatedly avoided calling themselves gambling companies, pointing out that they do not set the odds and are regulated under the Commodity Future and Trading Commission mandate.

The NCPG recently changed its helpline number to 1-800-MY-RESET, in a bid to raise awareness for its existence and reach more people who may need help at a time when sports gambling and online casinos, and now - prediction markets - are steadily on the rise. Addiction levels have been climbing up too, especially among a young cohort of people, mostly male, who tend to be spending increasing amounts on sports gambling, with more beginning to experience what qualifies as gambling-related harm. A recent survey suggested that many people who participate in prediction markets are more likely to describe the money they spend on sports event contracts as investment rather than gambling.