00:00So what we're seeing here actually is prediction markets starting to mirror more of the actions of traditional gaming platforms.
00:06What this change is meant to do is address the phenomenon of court citing.
00:09If you are court cited a game or an event, you have information before anyone else does, including market makers.
00:17So it seems like this is being implemented in order to sort of equalize that playing field again for market makers who are on the crypto.com platform.
00:25Cal, she sent us a comment after publication yesterday saying that although they have filed to make this their own form of delay, that they haven't decided whether or not they'll go through with it.
00:36It does seem to be live on crypto.com, though.
00:38So does it actually even the playing field if we're going to stick with sports metaphors?
00:43I think that, you know, it's the question is, are we just talking about court ciders and market makers?
00:49Are we talking about retail? I think there's going to be a difference of opinion there.
00:52Crypto.com did put in this regulatory filing back in July, and they did put this, they disclosed it on their website, but it was sort of buried down in terms of service and FAQs.
01:04So I don't know that a lot of people knew necessarily that it was happening.
01:08I'm curious to see how this plays out with people reacting to it and in trading going forward.
01:14Is this, I mean, is the retail, like, if we think about the platforms, like, who are these platforms actually for?
01:22Are they for the professionals or are they for the retailers now?
01:24So you need market makers typically on these prediction market platforms to to make sure that there is a lot of liquidity.
01:30And crypto.com spokesperson did say that they were implementing this for the purpose of improving liquidity there.
01:37But there have been there are more and more questions coming up now about the role of market makers, both internal and external, on prediction market platforms.
01:45And in this question of fairness, it's something that courts are starting to look at, and it's it's going to be maybe central to how both the Commodity Futures Trading Commission, which regulates these these exchanges, as well as state gambling regulators.
02:00Think about this as this is all playing out. It's one of the big questions ahead for this administration.
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