Not necessarily. There aren't really that many frictionless ways to gamble hundreds of thousands of dollars on your phone. People, especially young people, may make stupid, reckless decisions, but those decisions are often harder to get into and limited in scope and damage.
Cash advance on credit card and you can gamble on whatever you want. The cash advance on the credit card is the dangerous part.
You could even cash advance on a credit card, buy a car, and wreck it and be in the same financial situation as you would if you gambled it away on robinhood.