Morgan Stanley Intern Survey Shows 25 Percent Used Betting or Prediction Markets in Past Year
TL;DR — Morgan Stanley’s survey of over 500 interns found 25% used betting or prediction apps in the past year, with 55% of users on multiple platforms and many aged 21 or younger. This highlights youth interest amid 18+ vs. 21+ age differences and NCPG data showing 37% usage among 18-34 adults. Banks are now restricting employee access.
SCCG Take — Operators must weigh strong young-adult demand against rising compliance pressure from uniform age rules and Wall Street limits. A 21+ standard reduces risk but caps the market shown in the data.
A Morgan Stanley survey of its summer interns in North America found that 25% used a betting or prediction market mobile application in the past 12 months. The annual poll included more than 500 interns for the first time on questions about betting habits and prediction market usage. Many respondents are 21 years old or younger.
Among those who participated, 55% used multiple apps. Activity centered on the two leading platforms. The results arrive as prediction markets draw scrutiny over their reach among younger users and varying age rules compared with traditional sports betting.
Young Adult Participation and Differing Age Standards
In most US states where sports betting is legal, customers must be at least 21. Some prediction market platforms have permitted accounts at 18. The National Council on Problem Gambling has highlighted the gap, with its own data showing 37% of adults aged 18 to 34 used a prediction market. Goldman Sachs and Morgan Stanley have introduced restrictions on employee participation in certain prediction markets. Morgan Stanley updated its code of conduct on prediction market trading, while Goldman Sachs barred trading in financial and political event contracts.
One operator has tightened standards. Novig adopted a nationwide 21-plus age requirement. The Morgan Stanley survey also tested whether prediction markets reliably outperform traditional methods. The bank noted they do not always hold an edge over political polls or combined forecasts from teams of superforecasters.
Where Age Compliance Meets Demonstrated Demand
The survey data confirm measurable interest among finance-oriented young adults, yet the gap in age thresholds creates clear compliance friction for platforms. Operators that maintain an 18+ floor face corporate and regulatory pushback, as evidenced by Wall Street restrictions and NCPG concerns. Aligning on a uniform 21+ standard, as one peer has done, narrows the addressable base but reduces exposure to enforcement or reputational risk. Prediction market participants should track how these intern-level signals influence broader policy on event contracts.
Reporting: GamblingNews
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
Youth demand is real, but 18-versus-21 age gaps trigger Wall Street bans and compliance heat operators can't ignore.
We've watched prediction markets sprint ahead of policy for two years. When Goldman and Morgan Stanley lock out their own people and NCPG flags 37 percent uptake among young adults, the regulatory squeeze is coming. Operators clinging to 18-plus floors are choosing short-term volume over long-term license risk—and that trade rarely pays.
- 25% of 500+ Morgan Stanley interns used betting or prediction apps; 55% of users multi-app
- Wall Street firms now restrict employee participation; NCPG flags 18–34 adoption at 37%
- Novig moved to nationwide 21+ standard; age-rule misalignment draws compliance pressure
SCCG angle: SCCG advises on regulatory positioning and age-policy alignment across all 50 states. When platforms face Wall Street bans or NCPG scrutiny, we connect you to compliance counsel, state-lottery partners, and tier-one sportsbook operators who've already navigated uniform age standards—so you derisk before the regulator calls.
Gaming, betting and prediction markets — the desk’s read, every weekday.
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