00:00Finally, let's wrap up with another prediction market company, Polymarket, their CEO making some comments this week that is not going to sit very well with some of the sports books.
00:09But at least for the time being, anything that you say, Sam, right now, if it's getting attention on shows like this, it's probably worth mentioning.
00:18Yeah, you're definitely right, Craig.
00:20It's always going to make headlines when a CEO of one of these big companies, by the way, which is now valued at about $15 billion after an investment from New York Stock Exchange.
00:29He came out this week and called sports books scams, saying that they are not customer friendly, attacking them for limiting bettors, which obviously we know happens a lot on sports books, but only for a small percentage of people who are actually really good at sports betting and can make money.
00:44Most of their customers, I think about 98% are losing.
00:47So it doesn't apply to the retail consumers that these sports books typically go after as an entertainment option.
00:53But he touted prediction markets as a more transparent way to do sports betting where, you know, you're not playing against the house, you're playing against other players and they have less of a built-in edge.
01:05It comes at a funny time because the parlays that Kalshi just launched are now under new scrutiny after a Sportico report revealed that those are actually very tilted against the players themselves because of their own mechanism where it's harder for users to access different options that market makers who work for the app can actually make.
01:24So that's under a new spotlight as well.
01:54I know FanDuel has made it a point that they want to have the leading prediction market offering by next April, which will come in, you know, very, very short amount of time.
02:02They haven't even launched yet.
02:03So, yeah, he's making headlines with these statements for sure, but whether they hold water is kind of another question entirely.
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