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Jay L. Zagorsky, Associate Professor of Business, Boston University

Why making Americans bet with cash could protect people from gambling problems

U.S. Army Special Forces soldier Gannon Ken Van Dyke, left, was indicted for making wagers on the arrest of Nicolás Maduro while being part of the military operation that captured the Venezuelan leader. Edna Leshowitz/Getty Images

Gambling has exploded in the United States. American casinos and sportsbooks earned US$79 billion in 2025, up nearly 20% from the $66.5 billion just two years earlier. That doesn’t include the enormous sums earned by prediction market companies, which are technically not considered gambling but instead help forecast future events.

Regrettably, but not unexpectedly, the widespread ability to gamble is also causing major scandals.

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