Gambling-ish stock trading fascinates addiction neuroscientists and other researchers, as there are striking similarities between day trading, online stock options, and cryptocurrency trading on one side, and gambling and fantasy sports betting on the other.

Comparing stock trading to sports gambling (which I recently reviewed here), we see some speculative stock trading and fantasy league betting sharing core behavioral similarities. In each, participants frequently stake money on uncertain, competitive outcomes and receive unpredictable, variable rewards—the same pattern driving gambling disorder.

For example, a key component underlying gambling addiction is the illusion of skill. In speculative stock betting or trading, users believe data analysis, expertise, or strategy can overcome randomness. But outcomes are also heavily influenced by market volatility. In addition, emotional triggers often include a dopamine rush caused by anticipation, the thrill of winning, and the urge to “chase” losses after setbacks. (Chasing losses means the person continues to gamble because they believe they must be due for a win by now.)

Both are socially reinforced—traders through their online communities and fantasy players through leagues, group chats, and competition. Both may become identity-based ("I'm a savvy investor"). Each activity escalates from low-risk entry engagement through higher stakes, increased frequency, and emotional dependence, making individuals highly susceptible to behavioral addiction patterns despite the activity being framed as skill-based rather than gambling.

Recently, a psychometric paper introduced the Trading Disorder Scale (TDS) to assess disordered stock trading among amateur investors. The scale was created to help determine if a person has a stock trading disorder and needs intervention and treatment.

In gambling or day trading, money is often placed on a highly uncertain risk, and the individual could lose the entire stake. When leveraged trading becomes frequent, short-term, and speculative, stock traders refer to it as........

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