00:00prediction markets, at least in the NHL, seem to be okay for the time being. I'm noticing
00:06nothing from the NBA, nothing from Major League Baseball, nothing from the National Football
00:13League. They already have their partners here. So why can the NHL jump into this and some of the
00:17other sports cannot for the time being? Yeah, it's a really good question, Craig. We now have
00:24two major NHL teams with the Chicago Blackhawks, first partnering with Kalshi, and now the New York
00:30Rangers partnering with Polymarket to partner with these prediction market apps, which, as you
00:37mentioned, Craig, the other leagues have pretty much come out against, at least so far. You had
00:41back last year, the NBA and the MLB both wrote letters to the CFTC basically telling them that
00:49these prediction markets, which exist outside of the framework of normal sports betting apps,
00:55which both leagues are obviously partnered with, calling them sort of a threat to the game's
00:59integrity because they lack all these safeguards that sports books are supposed to have and are
01:06required of sports books and is one of the reasons that we have legalization and a whole regulation
01:10process. But the NHL now, with two teams partnering with these apps, the latest Polymarket and the league
01:17itself, I should mention, is actually partnered with Polymarket and Kalshi as well, the whole NHL.
01:24So very different when you have the MLB and the NBA and the NFL as well has come out against them
01:30saying that, you know, we're going to kind of wait and see what happens here. It could be a good
01:33opportunity, but the NHL obviously diving in. I would have to think it's, you know, one of the ways
01:38the NHL is just looking to expand. It's obviously, you know, not as popular a league as those other
01:43leagues or you certainly think of it after you think of the NBA or the NFL. So it'll be interesting
01:50to see kind of how these partnerships first start with these teams. And, you know, the Rangers are
01:55obviously owned by the same guy who owns the Knicks. You don't know if, you know, working with
01:59one team or group organization will bleed out to other things. But, you know, in the meantime,
02:05you have companies like Kalshi are crossing over a billion dollars in volume every week
02:10with most of it on sports. You've had FanDuel and DraftKings launching their own prediction
02:14market products as well. You had companies like ESPN interested in getting in the space.
02:20You now have Dow Jones, which owns the Wall Street Journal, partnering with Polymarket as
02:25well this past week. So these partnerships are becoming more common, especially in the news
02:30space and now in the sports space as well. It's just kind of another way these prediction
02:35markets are seeking to legitimize themselves as, you know, lawsuits and regulation kind
02:40of slodges. And, you know, we wait for that to kind of all play out. You know, it's just
02:45another kind of example of how they're kind of trying to work with these teams and organizations
02:49to, you know, create higher visibility and kind of legitimize themselves.
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