As a practical matter when someone gambles away their life savings we aren't going to let them starve in the streets, we're going to give them public assistance

As a practical matter when someone gambles away their life savings we aren't going to let them starve in the streets, we're going to give them public assistance. Despite my libertarian leanings I have to acknowledge that sports betting is a disaster for people with low impulse control, and while in theory prediction markets are useful for aggregating knowledge, in reality they've been taken over by degenerate gamblers and fraudsters.