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The Next Big Idea

How a Mormon Journalist Became a Degenerate Gambler

The Next Big Idea

Next Big Idea Club

Education, Social Sciences, Science, Society & Culture

4.41.3K Ratings

🗓️ 23 March 2026

⏱️ 56 minutes

🧾️ Download transcript

Summary

On a muggy spring day in 2018, the Supreme Court handed down a decision that transformed America. In a 6-3 ruling, the high court cleared the way for legal sports betting from coast to coast. Since then, all bets have been off: Americans have wagered more than $500 billion on sports. And now, thanks to prediction markets like Kalshi and Polymarket, we're betting on everything — the weather, where the next US airstrike will land in Iran, whether Jesus Christ will return before 2027. McKay Coppins, a staff writer at The Atlantic, wanted to write about this brave new world of betting. He got more than he bargained for. His story — "My Year as a Degenerate Gambler" — is the cover of The Atlantic's April issue. Watch The Next Big Idea on YouTube! You can find our episodes ⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠. Follow Rufus on ⁠⁠⁠LinkedIn⁠⁠⁠, subscribe to our ⁠⁠⁠Substack⁠⁠⁠, or send us an email at ⁠podcast@nextbigideaclub.com⁠. We love getting fan mail. Sponsored By: Fabric — Join the thousands of parents who trust Fabric to help protect their family at ⁠⁠meetfabric.com/nbi⁠⁠ Factor — Head to ⁠⁠⁠factormeals.com/idea50off⁠⁠⁠ and use code idea50off to get 50% off your first box Granola — Get three months free at ⁠⁠granola.ai/idea⁠⁠ Shopify — Start your $1/month trial at ⁠⁠⁠⁠⁠shopify.com/nbi⁠⁠⁠⁠

Transcript

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0:00.0

I'm Caleb Bissinger, and I'm Rufus Grisgham.

0:02.8

And this is the next big idea.

0:05.1

Today, how gambling took over America. In 2017, Americans legally bet $5 billion on sports.

0:37.3

Last year, that number skyrocketed to $160 billion.

0:43.0

Roughly half of all American men, ages 18 to 49, have an active account with an online sports book like draft kings or fan duel.

0:50.4

And nearly a third of 11-year-old boys have gambled in the past year. And with the rise of

0:56.5

prediction markets like Calci and Polymarket, Americans are now betting on everything. I started

1:02.9

talking to my editors about doing a story about the kind of explosive growth of the sports

1:08.1

betting industry in America and also sort of what gambling is doing

1:12.1

to American culture. That's McKay Coppins, a staff writer at The Atlantic. His new cover story for the

1:18.0

magazine is called My Year as a Degenerate Gambler. As the title suggests, McKay wasn't just a

1:24.5

skeptical observer of the gambling boom. He went all in.

1:29.1

I looked at my phone and I started to do the mental math

1:33.2

and I realized that I had lost $2,500 in like 13 days.

1:38.6

What he learned, what he lost,

1:40.9

and what it can teach the rest of us after these ads.

1:54.0

Okay. what he lost and what it can teach the rest of us after these ads. Today's episode of the next big idea is sponsored by Shopify Fabric Granola and Factor.

1:58.7

Start your business today with the industry's best business partner, Shopify.

2:02.7

Sign up for your $1 per month trial today at Shopify.com slash NBI.

2:07.8

Fabric by Gerber Life is term life insurance that you can get done today.

2:12.3

Apply in just minutes at meetfabric.com slash NBI.

2:16.6

Eat like a pro this month with Factor.

...

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