New research in the United States shows that young adults are increasingly turning to betting as a way of boosting their finances.
The research conducted by The Harris Poll on behalf of Northwestern Mutual suggests that three-quarters of US adults who are drawn to high-risk assets say it is because they feel financially behind.
The research was conducted in January among 4,375 US adults aged 18 or older and the findings were published this week.
Northwestern Mutual’s 18th annual Planning & Progress Study finds half of adults in America now saying they feel financially secure, an increase from 44 per cent last year, but a sizeable number of Americans – particularly young adults – are investing in or are considering investing in high-risk or speculative assets such as prediction markets, sports betting, and cryptocurrencies.
Among those using or considering these financial instruments, 73 per cent say they are doing so because they feel financially behind and think those investments offer a faster path to their goals than traditional methods. Among Gen Z, the number is 80 per cent.
Crypto is the favored high-risk ‘investment’, with 32 per cent of Gen Z and 35 per cent of Millennials currently invested in or considering investing in 2026. This compares to 24 per cent across all US adults.
Sports betting and prediction markets are second with 32 per cent of Gen Z and 24 per cent of Millennials considering or already participating in 2026, compared to 17 per cent across all age groups.
“When people feel behind, they often look for shortcuts,” said John Roberts, Northwestern Mutual’s chief field officer. “But building financial security is rarely about cutting corners. It’s about consistency, discipline, and protection. A comprehensive plan helps people grow confidently without taking unnecessary risks.
“These high-risk assets can be fun to play with, but that’s why we recommend only spending ‘fun money’ on them. Don’t allocate more than you can afford to lose completely and focus your planning on strategies that have been proven to help people build and protect wealth over the long-term.”
The study shows that more people expect the US economy to weaken in 2026 (45 per cent) compared to those who expect it to improve (36 per cent), with 56 per cent of adults believing that inflation will increase this year, up from 51 per cent who said the same in 2025.
Americans overwhelmingly cite inflation as the leading obstacle to achieving financial security (42 per cent), well ahead of lack of savings (25 per cent), personal debt (22 per cent), and healthcare costs (22 per cent).
In terms of spending, only 24 per cent of US adults expect to spend more this year on non-essential items, with 40 per cent expecting to spend the same as last year and 33 per cent expecting to spend less.
Excluding mortgages, the main source of personal debt across all age groups was credit card bills.