Kalshi's Record Trading on NFL and College Football

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Transcript

00:00Sam, some big news out there. The prediction markets just keep on adding little things to

00:05their menu to be able to put your money on. I saw parlays now involved and basically just not

00:12holding back and opening up the door to all kinds of new ways to not wager but put money down on

00:18things. Calci, no stranger to this, and I see some of the other companies as well. So increase a

00:24number of options, I guess, with the NFL season underway. Yeah, prediction market Calci set a new

00:30record for trading activity on Saturday with $260 million in volume. That tops its previous record,

00:37which was on Election Day 2024, long before it started doing these sports prediction contracts.

00:44Then a day later, it proceeded to break that record again with $275 million in volume on Sunday. Almost

00:52all that was on sports, about 90% of all the volume this weekend. And football actually made

00:58up 24 of the top 25 traded markets on Calci. The only market that wasn't football that was in the

01:04top 25 was the Ryder Cup in golf. So another sports market there. You had a huge slate of college

01:10football games on Saturday. It was actually the second highest week of viewership since the season

01:15started. You had Alabama and Georgia drew $23 million in volume. You had eight games in total

01:20breaking eight figures on Calci. So just huge numbers on the platform. Again, this is its first

01:25season of college football, first season of NFL, the first time people in California, people in Texas

01:32and Georgia can pretty much do what looks very much like sports betting on this platform, Calci,

01:39which has partnered with Robin Hood as well. And then Sunday rolled around and you had the,

01:44you know, overtime thriller between the Cowboys, the Packers, Michael Parson facing his former team,

01:49went to overtime, high scoring game, which always attracts more volume. And then Calci a day later

01:56decides to roll out what is calling a combine your own wager, make your own, make your own wager,

02:03make your own, you know, not a bet, but it's a bet. It's basically what it is. It's a parlay,

02:09which has been rolled out now by Calci for the first time. And I wouldn't be surprised if other sports

02:15or other sports prediction markets start doing this sort of thing. Keep in mind, this is something

02:20that FanDuel and DraftKings have said, you know, we're not worried about prediction markets taking

02:25away from our business because they can't offer parlays. They can't offer these bets that people

02:29love to do. Now you have them starting to do that. So we don't have the initial numbers yet because

02:34they've just started doing it. This week will be very telling. They already, you know, smashed their

02:38numbers last week without parlays. We'll have to see what happens. And, you know, meantime,

02:42regulation just is not there. The CFTC held a roundtable with the SEC this week to discuss this.

02:49That didn't really amount to anything. U.S. senators are now circulating a letter basically asking why

02:54the CFTC is allowing these companies to skirt around gambling laws in the States and gambling

02:59laws that the tribes own as well. So, yeah, Calci continues to do this tremendous amount of volume

03:06and it's only going to get bigger and bigger. They're rolling out new products. You have now

03:11underdog with crypto.com getting in this space as well. And in the meantime, there's no regulation.

03:16So it's a huge quandary right now for sports betting operators.