20251216 STUDIO ROUNDTABLE SportsGambling

New York Post

Watch 20251216 STUDIO ROUNDTABLE SportsGambling - New York Post on Dailymotion

Transcript

00:00Sports gambling is sort of evolving.

00:03Now you see Fanatics, you see Robinhood,

00:06you see all of these companies launching prediction markets,

00:09which in some ways are similar to sports gambling companies.

00:15And I'm curious to get your take,

00:17because I think this has become such a big market,

00:20and obviously Polymarket, Calci now have insane valuations.

00:23So they're becoming more and more ubiquitous.

00:26In the financial markets ecosystem, particularly for retail traders.

00:32But you can bet on anything.

00:33Right.

00:34You can bet on an Oscar-winning film.

00:35But what's interesting is...

00:37Or how much snow we're going to get.

00:38And it sort of is the gamification and gambling-ification.

00:43Well, markets have always been...

00:44Of all of life.

00:45Well, yeah, but markets in particular have always been gambling.

00:49But it is interesting...

00:51You have to know.

00:51I mean, if you buy an ETF in 10 years from now,

00:54it's probably going to be up.

00:55It's pretty safe.

00:56There's investors, but there's a lot of people that gamble.

00:58And the meme stock craze, you know, spoke directly to this.

01:01And I think that's what's happening here.

01:03It's completely, for the most part, unregulated right now.

01:06And this was kind of...

01:08The Polymarket is not allowed in the U.S., right?

01:09Polymarket's...

01:10Although people, I think, with VPNs can get around it.

01:12Calci is.

01:13But what's interesting is, you know, now people are calling it out.

01:15So Brian Armstrong, in an earnings call with Coinbase,

01:19basically gave a nod to the Polymarket Calci bets.

01:23And there were all these bets saying,

01:24is he going to say Ethereum or this word or that word?

01:27And he ended the call by saying all of these words.

01:30Think about if his secretary or assistant knew that he was going to do that

01:34and placed a bet, betting he was going to do that.

01:37I mean, there's so much possibility for insider trading.

01:39That is insider trading.

01:40Well, I wonder if that is insider trading.

01:41I don't...

01:42I mean, right now, I don't think it would be classified as such.

01:45Is that material, non-public information that is owned by the shareholders of Brian Armstrong?

01:51Or Coinbase, we're talking, right?

01:52Coinbase.

01:53Coinbase is a publicly traded company.

01:55What the CEO might say, you could reasonably argue, is material, is owned by the shareholders.

02:03Therefore, if his secretary knew what he was going to say,

02:09she would be misappropriating that it would be theft.

02:13It's misappropriation.

02:14And that's insider trading.

Category

Transcript

Comments

Recommended