00:00Okay, so the biggest difference in sports betting from a year ago is, if you live in Texas and California, you can't bet legally on sports, but you could pop up Calci and some of these other prediction markets and kind of do the same thing. And it looks like Sam to me that Calci in particular has decided, hey, no one's stopping us. So let's throw some more props on our board and our app as well. And so the story that just keeps growing is growing even more in terms of finances.
00:27And by adding more props, it's only going to mean more money for them, right?
00:31Yeah, 100%. They've done a ton of business so far in the NFL. So it's no surprise, you know, every week, they're making more steps to grow the business even more. You had just this week, Calci submitted a self certification filing with the CFTC, which will allow it at some point, could be tomorrow, could be, you know, this weekend, to start offering player props on passing yards, rushing yards, pretty much everything that you see out of the NFL.
00:57Sportsbook Calci already offered touchdown props, but that was it didn't have the robust menu of betting options that you have in a sportsbook. So, you know, just a week ago, we were talking about how they changed their entire interface to include spreads, money lines and totals and kind of a box format that really looks a lot like a sportsbook.
01:13And it's funny, Craig, you mentioned that, you know, in California and Texas, where there is no legal sports betting, you actually have Calci putting ads out there saying that sports betting is legal in California sports betting is legal in Texas, as long as you bet with Calci.
01:27So you have on, they're kind of talking on both sides of their mouth, we're on the marketing, on the marketing end of things, they want to be a sports betting product, they're certainly, you know, from a technological standpoint, trying to become more and more of a sports book.
01:40But then you have on the flip side, the regulatory front, where you have several states, including Nevada, New Jersey, Maryland, all suing to stop Calci, Massachusetts recently as well saying that, hey, what you're doing is unlicensed sports betting, and you need to go through us first in order to do it.
01:54In California, you have the tribes of Sue there as well. Obviously, you know, sports betting isn't legal in that state. In the meantime, you have judges so far ruling in favor of Calci saying that, you know, this is regulated by the CFTC until the CFTC declares that these are markets that we cannot be offering, and that these actually should be under the states, then you can kind of go ahead and let the lawsuits play out.
02:14So the backdrop of that is Calci investing more and more, they've made some key hires in the gaming business, you had their competitors jump in as well, Polymarket, planning to reenter the US with a very similar product, underdog fantasy, now underdog sports, doing the same thing with the sports prediction market that just launched last week, under partnership with crypto.com. So kind of the story here is they're going to keep expanding and keep expanding. And, you know, next week, next week, we could be talking about them adding parlays and who knows what after that.
02:42And in the meantime, kind of regulation is struggling to keep up.
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