Yahoo Finance
As the cost of living continues to increase, Gen Zers and millennials appear to be big fans ofprediction marketsandbetting on sports.
According to a recent study from Northwest Mutual, 32% of Gen Z and 24% of millennials say they're either actively using these platforms or they're considering putting some money into them (1).
Thanks to Jeff Bezos, you can nowbecome a landlord for as little as $100— and no, you don't have to deal with tenants or fix freezers.
Here's how Robert Kiyosaki saysthis 1 asset will surge 400% in a yearand begs investors not to miss this ‘explosion’ Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake —here’s how to fix it ASAP In recent years, prediction markets have become quite popular in the U.S.
In fact, according to the investment firm Bernstein, trading volumes are expected to quadruple in 2026 from last year's totals, hitting $1 trillion by 2030, CNBC reports (2).
Based on Northwestern Mutual's findings, financial stress seems to be encouraging young people to find new ways to make some money.
Among those who showed interest in prediction markets, sports betting, options, meme stocks or crypto, 75% of millennials and 80% of Gen Zers say their interest stems from anxiety over falling behind financially, and these platforms could represent a quicker and less traditional way to reach their financial goals.
"There is a growing sense of nihilism, of financial nihilism, that the traditional rules of money are broken," Haley Sacks, host of the Financial Tea podcast, told CNBC (3).
"Housing is unaffordable, inflation is eating your paycheck, and I think that people just feel like the slow and steady approach is maybe like a scam." With somebig prediction market winsmaking recent headlines, it's not hard to understand why young cash-strapped Americans would flock to such a platform.
As Sacks explains, some users see the prediction market as "a faster path to wealth than traditional savings." "They want a shortcut because the traditional road looks blocked," she adds.
While the traditional wealth-building pathways like investing and homeownership still exist, many young Americans have a hard time believing they can achieve the same level of success as older generations.
And with today's high housing costs, stagnating wages and high student debt, there are many reasons for the youth to be skeptical.
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