TLDR AIBM policy lead Jonathan Cohen says prediction markets and sports betting lack adequate consumer protections, especially for young men About 40% of Americans believe sports are rigged, reflecting a broader collapse in institutional trust Cohen warns prediction markets blur the line between gambling and investing, especially when offered on brokerage apps The insider trading controversy around Polymarket and the Maduro capture case has accelerated political scrutiny of prediction markets AIBM is pushing for age-based restrictions, default spending limits for under-25s, and data-driven guardrails across all gambling platforms
The American Institute for Boys and Men is pushing for stronger regulation of prediction markets and sports betting in the United States. Jonathan Cohen, the group’s sports betting policy lead, laid out his case in a recent interview with Gambling Insider.
Cohen, who joined AIBM in January, is both an academic and advocate. He has written two books on US gambling policy and appeared on PBS and at a Brookings Institution panel on prediction markets.
His central argument is simple. The guardrails on sports betting are weak, and on prediction markets, they barely exist at all.
AIBM’s recent research found that a large share of Americans expect corruption in gambling-related industries. A Deseret News poll found roughly 40% of Americans believe sports are rigged.
Cohen said this reflects a wider erosion of trust in American institutions, not just a gambling-specific problem. But he added that the industry’s messaging about integrity “just isn’t resonating” with the public.
Prediction Markets Present New Risks
One of Cohen’s sharpest criticisms targets prediction markets like Polymarket and Kalshi. He said these platforms blur the line between gambling and investing, particularly when they appear on brokerage apps.
“Someone could come onto a prediction market truly thinking it’s an investment platform, not realizing how gambling-like it