00:00all right let's get to prediction markets here that's been the hot story of the year
00:03these different operators that have launched sports betting uh they call it not sports betting
00:10but to me i'm just gonna call it what it is at this point i mean you can get the bet the money
00:13line on games or predict the money line on games it's closer to sports betting than anything that
00:17i've seen that's not called sports betting i don't know what to say about it but is this what's in
00:22the future here sam because if they're not gonna stop this and let hundreds of millions of dollars
00:27get exchanged on these apps and websites it feels like we're gonna see a lot more of this in the
00:31future yeah most americans sure seem to agree with you craig there was this survey that the american
00:37gaming association put out this week where it polled uh u.s voters and it found that 84 percent
00:42of respondents said agreed with you they said you know this looks like sports betting so it should
00:47be regulated as sports betting you know you ahead of football season you have these companies
00:51redesign their entire interface to have you know the six box spread where you have you know the
00:57spread the money line and the over under for each game where it looks almost exactly like a sports
01:01book although uh they they say for um you know regulatory purposes that it's not it's been able
01:07to allow them to be in states like california states like texas where there is no legal sports
01:12betting so uh the poll saying that most people think that it should be regulated the same way
01:16as sports betting of course these prediction markets like calci robin hood crypto.com now poly
01:23markets sued they say that they shouldn't be regulated as sports betting and they're instead
01:27financial uh instruments that should be regulated by the cfdc now the cfdc has not done anything there
01:33we're supposed to do a round table earlier this year to address the issue there has been a commissioner
01:39nominated to take over from the last administration who actually has ties to calci and other prediction
01:44markets he hasn't been confirmed yet they've basically done nothing in this space so it's
01:49we're kind of in limbo meanwhile a bunch of states have sued to stop it saying that hey this
01:54is sports betting we need to be the ones who regulate it the judges so far have said you know
01:58it should be decided by the federal government who says that they're the ones who figure this thing out
02:02so obviously the federal government hasn't done anything yet and meanwhile these uh sports prediction
02:08markets continue to just expand with how much money they take you had 300 million dollars was traded on
02:14calci over uh this past weekend the first week in the college football and nfl which was its biggest
02:20day in the platform's history since the uh election uh in 2024 and its third biggest day of all time
02:26they've continued to pump in money and investors and bring in people from the sports betting industry
02:31to expand it and make it even bigger and in the meantime you have companies like fanduel
02:36draft kings underdog all positioning themselves to launch prediction markets sometime in the future so it
02:43seems like that if anything gives us a signal that they don't think that this is going to be cracked
02:47down on and we very much could be talking i'm just in a couple months a scenario where you have
02:52betting on draft kings and fanduel pretty much legal in all 50 states even though they haven't
02:57legalized it so it certainly is uh quite a mess and you know football season brings the most money so
03:02we're only going to see more focus on it as we go forward
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