It’s widely known that Gen Z, the demographic born between 1997 and 2012, has taken to online sports betting and, more recently, prediction markets. But a new survey from Betterment indicates this age cohort is embracing those habits with disastrous financial consequences.

The asset manager’s 2026 Retail Investor Survey, the fourth annual iteration of the poll, says 26% of Gen Zers view sports wagering “as a deliberate part of their long-term financial strategy” while a staggering 52% have redirected capital originally intended for brokerage or retirement accounts…