[dev_throw]

Then make them take some tests to get accredited rather than an arbitrary income barrier, or net worth gatekeeping. According to that logic, someone with $2M net worth is just as likely to lose their shirt as someone with $50k net worth if they put their entire worth into a losing fund.

[elliekelly]

It’s not about knowledge, it’s about the amount of risk and the amount at risk.

Two equally skilled investors each looking to invest $10,000 in the same company. Investor A is worth $10,000,000 while Investor B is worth $100,000.

Those two investments look the same on paper but the risk for each investor is wildly different. A test won’t solve for that.

[thaumasiotes]

I don't think you have a good sense of who's buying how many lottery tickets. By your measure here, amount invested as percentage of net worth, the lottery should definitely be illegal.

[elliekelly]

If lottery tickets were intended to be investments instead of a tax on poor people who can’t do math, yes.