Compound's Dempsey wants gambling restricted to over-26s

Frequently asked questions

1. Who is Michael Dempsey and why does his view on gambling carry weight?

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   Michael Dempsey is managing partner at Compound. He funded part of his college living expenses through sports betting and has traded options since age 18, so his opposition to youth gambling comes from personal experience.

2. What age restriction does Dempsey propose for gambling?

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   He argued in an October 19 interview with Empire that gambling should be restricted to people aged 26 and older.

3. Why does Dempsey want gambling restricted until age 26?

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   His argument is that young people get caught up in speculation and short-term gains before they understand long-term growth and compounding.

4. What did Dempsey say about prediction markets?

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   He said he now strongly opposes prediction markets and excessive gambling, despite his own history of betting and options trading from a young age.

5. What was Dempsey's comment on meme coin trading and Pump.fun?

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   He acknowledged meme coin trading takes effort but questioned its intellectual value, joking that using Pump.fun might be 100 times worse for your brain than using ChatGPT every day.