We Legalized Sports Gambling. Now We're Paying for It — ft. Jonathan D. Cohen

In this episode of The Prof G Pod, Scott Galloway sits down with Jonathan D. Cohen, gambling policy lead at the American Institute for Boys and Men and author of Losing Big: America's Reckless Bet on Sports Gambling. The conversation centers on the explosive growth of legalized sports betting in the U.S. since the 2018 Supreme Court decision that struck down the federal ban. Cohen argues that while gambling isn't inherently bad, the current model—especially frictionless, app-based betting—has created a public health crisis, particularly for young men. He highlights alarming data: a 30% surge in bankruptcies post-legalization, a 10,000% increase in self-exclusions among 18–35-year-olds in Pennsylvania since online betting was introduced, and the fact that gambling has the highest suicide rate of any addiction. Cohen criticizes the lack of meaningful regulation, calling for systemic friction—like automatic deposit and time limits, national self-exclusion programs, and a shift in regulatory mandates from revenue maximization to public well-being. He also warns of the rise of prediction markets as a backdoor to gambling, and advocates for mandatory financial literacy and gambling education in high schools. The episode ends with a sobering reflection: we may be decades away from serious regulation, with the tipping point likely only coming when elite figures or sports integrity are threatened.