[Keverw]

Kinda interesting they limit who can invest in things, yet you can go to the casino or blow all your money on lottery tickets. Seems like just another way for the rich to keep getting richer. Also always found it odd, the age for lottery and casino were different too, at least in the US. 18 for lotto, 21 for casino.

[thephyber]

This regulation isn’t designed to protect you from yourself (eg addictive behaviors) or “investments” that are obviously bad for even those without a high school education.

It’s designed to provide some minimal protection against sophisticated fraudsters (eg Bernie Madoff).

SEC doesn’t govern lotto/gambling within states; that happens at a state level, just like alcohol and tobacco.

I agree that the USA tends to have an incoherent stance on age of responsibility versus freedoms, but that’s largely because the federated government system and different states have different ideas about how much freedom/responsibilities their people should have.

[rolltiide]

This outcome is ridiculous and has no place in American society. It was more tolerable when high growth companies IPO’d at $30mm market caps but that world doesn't exist, serving to put a spotlight on these regulations separating the primary economic growth engine’s opportunities to just the already wealthy.