The recent fiscal downturn forced cash-strapped, tax-averse state lawmakers to seek unconventional revenue- raising alternatives, for additional revenue-raising opportunities outside of the income, sales and property taxes that form the backbone of most state tax systems. One of the most popular alternatives to those major revenue sources is state-sponsored gambling. As this policy brief points out, however, gambling revenues are rarely as lucrative, or as long-lasting, as supporters claim.
“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