How is exclusion helping for a largely non binary but on average positive integer? And it gets even harder to defend if you slice thinner: are penny stocks ok

How is exclusion helping for a largely non binary but on average positive integer? And it gets even harder to defend if you slice thinner: are penny stocks ok for grandma to own or just individual Fortune 500 stocks? Or no stocks at all just indexes? Etc. Further, surely you wouldn’t argue the same for lottery tickets right? That the consumers can’t understand the math and/or can’t calc the probability ex ante therefore the government should preclude them from participating due to low “prowess” (ignore the positive tax base component). I’d be okay with a “drivers license” type regulation than a minimum net worth threshold regulation which just increases inequality in the long run and creates greater divisions in society. Edit: it’s weird I can work at riskyStartupXYZ as a 22 year old but not easily “bet on it” succeeding, even though the later implies much less risk.