While the social costs of gun violence are high, opponents of gun restrictions argue that gun ownership deters crime and creates a positive externality by increasing unobserved risk to criminals. This paper investigates the evidence for these two deterrence channels, exploiting the sudden disclosure of all handgun permit holders' names and addresses in two New York counties. Permit holders have more crime incidents at their homes relative to non-permit holders in the baseline, which is not driven by selection into neighborhoods. I find little evidence in favor of direct deterrence, and little evidence of peer deterrence. Instead, I find that victimization is associated with a higher likelihood of future gun ownership. •Permit holders have more crime incidents at their homes relative to non-permit holders who live on the same street.•Disclosing permit holders’ names and addresses does not have a detectible effect on crime.•Revealing a higher density of permit holders around an address does not have a detectible effect on crime.•Victimization is associated with a higher likelihood of future gun ownership.