What happens when you can bet on anything?

Prediction markets are booming in popularity and sparking controversies across the country. These online platforms let people wager on the outcome of real-world events, from weather and sports to elections and wars, but at what cost?

Host Reema Khrais talks with clinical psychiatrist Dr. Timothy Fong and financial psychology expert Hanna Horvath about the psychology behind why more people seem to be drawn to betting, the social forces that fuel this trend, and what’s happening to our brains when more and more parts of our lives become subject to wagers.

A few takeaways from the episode:

• Easy access and social pressure are pulling more people into betting. Most of these platforms can be accessed directly on our phones, creating a frictionless environment that makes it easier to place bets anywhere, anytime. Dr. Fong describes an example of a young patient struggling with gambling addiction: “The fascinating thing about this young man [is that he] never set foot inside a brick-and-mortar casino, never talked with a human bookie. Everything's on his phone.”

• For some people, gambling fills a need for community. Referring to the same clinical example again, Dr. Fong explains, “In this young man's example, he loved sports, around him were a bunch of other classmates who loved betting on sports. So it was a common social activity.”

• Economic frustration can make gambling feel like an alternative path to success. Horvath says many young people feel that traditional ways to build wealth are out of reach: “They felt like they did everything right, they went to college, they're graduating into a job market that is not very friendly to new college grads right now, and they're feeling like, well, what can I do to get ahead?”

• Turning real-world disasters into wagers changes how we relate to them. “It dehumanizes people. It actually makes us feel more like Roman gladiator times,” says Dr. Fong, referring to bets on endangered species, pandemic deaths, school shootings, and wars, among others. “These are really absolutely inhumane things to be rooting for or against, and putting your wealth attached to it. And you just become desensitized over time.”

If you or someone you know is struggling with gambling, professional help is available in every state. You can call The National Problem Gambling Help Line at 1-800-GAMBLER.

If you want to tell us what you thought about the episode or anything else, email us at uncomfortable@marketplace.org, leave a message at 347-RING-TIU, or fill out the form below.