Participating in Secret Santa?

Hi everyone. I've been at my new job for a few months and in a meeting I was told that the team participates in Secret Santa. We would write down our wishlist and put it in a bowl and people would randomly pick someone's list. I think this is a waste of time because I honestly don't want to spend a dollar on these people.

Would it be okay for me to opt out or would doing so put me on a bad spot?

Thanks.

Participating in Secret Santa?