This report revealed that household lottery spending is financed primarily by a reduction in non-gambling expenditures, not by a reduction in expenditures on other forms of gambling. The introduction of a state lottery is associated with an average decline of $46 per month, or 2.4 percent, in household nongambling expenditures. Low-income households reduce non-gambling household expenditures by 2.5 percent on average, 3.1 percent when the state lottery includes instant games. This report was complied by Melissa Schettini Kearney at the Wellesley College and National Bureau of Economic Research.
“They Looked Like They Were Getting Rich on Polymarket— but None of It Was Real” | Wall Street Journal
June 22, 2026
By Katherine Long, Caitlin Ostroff, Neil Mehta and Brenna T. Smith “The prediction market has flooded social media with deceptive