‭ A Longitudinal Study of Speculative Trading Activities and Health Correlates in Young Adults

Abstract

Problem gambling is a significant public health concern linked to profound behavioral health consequences, particularly for young adults who are affected by higher vulnerability to‬ risky behaviors. In the backdrop of online gambling's growing popularity, speculative short-term‬ trading of stocks and cryptocurrencies (e.g., Bitcoin) have seen major gains in popularity among‬ young adults. Emerging evidence suggests speculative trading entails many of the same risks and‬ harms as traditional gambling, warranting efforts to explore and minimize trading-related health‬ harms. The present study investigated behavioral health and substance use correlates of young‬ adult speculative trading through a longitudinal study design utilizing generalized linear mixed‬ models (GLMMs). The study aimed to 1) evaluate between-person associations between trading‬ and health indices, 2) assess within-person associations between trading and health indices, and‬ 3) explore moderators of the relationship between trading and health indices based on‬ theoretically supported links. We hypothesized that greater speculative trading activity would‬ predict greater depression, anxiety, and substance use behaviors at both between-person and‬ within-person levels. The results demonstrated a positive between-person association between‬ trading frequency and nicotine use intensity. They also highlighted the roles of financial stress,‬ sensation seeking, perceived norms and attitudes towards trading in moderating trading's‬ connections to behavioral health and substance use. Descriptive statistics from the study yielded‬ additional key insights into trading behaviors and related harms in our cohort of young adults.‬ Theoretically and empirically supported explanations and potential implications are discussed.‬ The current study serves as the first of its kind known to assess the longitudinal associations‬ between speculative trading activities and health correlates among young adults.‬