The difference is that a state lottery is completely transparent about their payouts. Companies will often lie about their expected payouts, hence the scrutiny.

The difference is that a state lottery is completely transparent about their payouts. Companies will often lie about their expected payouts, hence the scrutiny. > but in reality cut off all but the wealthy from the true upside to investing I don't understand the logic here. There isn't a global conspiracy among rich people to stopping others from making money. It doesn't make any difference to Jeff Bezos on whether $1 million gets made by Peter Thiel or a regular person. In fact, Bezos would probably prefer the latter since they're more likely to spend their money on Amazon purchases. The reason for accredited investor status is because losing money hurts more than winning money benefits unless if you have a lot of money to begin with. One regular person making $1 million doesn't make up for 10 regular people losing $50,000, even though that would be wildly EV positive.