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Geno Smith Released by Raiders, Future QB Moves Explored
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00:00But we begin on the gridiron where Geno Smith, at 35 years old, is looking for a new home.
00:06The Las Vegas Raiders cutting them loose after, of course, remember, the trade from Seattle to Vegas,
00:13signing a two-year, $75 million extension to play for his old pal Pete Carroll, who he was with in
00:20Seattle.
00:21Both of them are on the outs now.
00:22So, Smith released the Raiders opening up $8 million in salary cap space while taking on $18.5 million in
00:30dead money,
00:31as you can see in that tweet from Adam Schefter.
00:33There are more and more reports looming and surrounding this story among them.
00:40The Raiders part may still be in the quarterback market beyond the obvious of,
00:45hey, they've got the number one overall pick off a 2-13 campaign for Geno Smith personally,
00:51where he led the NFL in interceptions.
00:53It was really just a dumpster fire of a season, unfortunately, in year one and the only year with the
00:58Raiders for Geno.
00:59So, everyone has assumed with that number one overall pick, the Raiders will go out,
01:03draft the reigning champion, reigning Heisman winner, Fernando Mendoza, out of Indiana.
01:09And I'd say that's a pretty safe assumption as things go right now.
01:13But the interesting report out of Diana Rossini from The Athletic earlier today
01:17is that the Raiders, again, could still be in the QB market as they may not want to start Mendoza,
01:23the, again, perceived number one overall pick, right away, even if they take him.
01:28So, they would still be looking for a quarterback in free agency to be something of a bridge QB,
01:32as you don't see oftentimes these days with number ones.
01:37For instance, Cam Ward started out of the gate last year as a member of the Tennessee Titans.
01:41But Drake May, who was the third overall pick in the draft the year prior by the Patriots,
01:46he didn't start until a decent chunk of the way into the year.
01:49It was Jacoby Brissett, the current Cardinal, who was the week one starter.
01:53So, not unprecedented, obviously, among top three, top five picks, let alone number one.
01:59Let's go over to the world surrounding Kalshi.
02:03Kalshi, we have been talking of late about the death of Hemeni, Ali Hemeni, of course, the supreme leader of
02:12Iran.
02:13Kalshi is facing backlash after refusing to pay out $54 million in bets tied to his fate.
02:21Kalshi says the rules do not allow markets that directly profit from someone's death.
02:25Kalshi, they closed the market, of course, at the last trading price.
02:29Instead of paying full winnings and refunded some fees, Kalshi treated the market like an invalid market,
02:35which has really rubbed many the right way, particularly those who stood to profit.
02:40When reports emerged that he had died, many trading holders holding yes,
02:45shares believed that they had won a large payout.
02:47Kalshi froze the market, however, and voided the payout.
02:50So, having to deal with some of the backlash as it relates to that right now,
02:54I will remind people how sick and twisted all of this is,
02:56because, again, we are talking about the death of somebody and people wagering on it in the prediction market.
03:02But, again, that's where we are in the space right now.
03:05Going over to the NCAA and back to football,
03:09the NCAA is heeding the Supreme Court's ruling over Trinidad Chambliss,
03:15the preliminary injunction that is being appealed by the NCAA
03:21because it granted him eligibility for the upcoming 2026 season.
03:24In a nearly 700-page filing to the Mississippi State Supreme Court today,
03:30the NCAA is asking the court to overrule the injunction and expedite the ruling.
03:35Going over to the diamond, of course, baseball spring training is underway,
03:38but so is the World Baseball Classic.
03:40And Shohei Ohtani, who is just an absolute force of nature,
03:43the greatest baseball player these eyes have ever seen
03:47and probably in the history of the sport went off
03:50for Team Japan against Chinese Taipei this morning early on.
03:5513-1 in only seven innings.
03:57Ohtani, three for four, a grand slam, seven total bases, five RBI,
04:02only missed the cycle by the triple.
04:06Japan 10 runs in the first and third, runs in the first and third, pardon me.
04:12And just, again, you have to consider Japan,
04:16as stacked as that United States roster is
04:18and some of the other teams, Puerto Rico, Dominican Republic,
04:21some of the obvious ones to think about.
04:23Japan, do not count out this squad
04:25when you have Shohei Ohtani doing what he is doing
04:28on what feels like a daily basis.
04:30Now, basketball, huge news in the NBA
04:33as Jason Tatum, the superstar of the Boston Celtics,
04:37the return is looming.
04:38He is officially questionable to play tonight.
04:41First time he has had the Q tag all season long
04:44after rupturing his Achilles in a playoff series loss
04:47to the New York Knicks last May.
04:50Of course, has not played since.
04:51It's been 10 months.
04:52Sham Sharania, ESPN, tweeted yesterday
04:55that the return could happen tonight
04:58against the Dallas Mavericks
04:59as Cooper Flagg makes something of a homecoming.
05:02Of course, the Maine native has never played
05:04at the TD Garden in Boston.
05:05We'll have loads of family and friends in attendance,
05:08but Tatum right there to steal the spotlight
05:10with the expectation that he is going to play tonight.
05:13And Sham's describing Tatum as, quote, ready to go.
05:18Now, props for this one for Tatum.
05:20At last look, only 12 and a half points.
05:23We don't have any details,
05:24but you have to assume that he will be
05:26on a minute's restriction in that first game
05:28in, again, roughly 10 months.
05:30So 20, 25 minutes, probably at most something to consider.
05:35Sticking with basketball, last night,
05:37Victor Wemenyama, a future MVP in this league,
05:40albeit not this year.
05:41It's going to happen.
05:4238 points the Spurs handled the Pistons
05:44in what may have been an NBA Finals preview.
05:47121-106.
05:48The Spurs won.
05:49They covered his narrow two and a half point favorites.
05:51This is a game that we talked about,
05:53liking the San Antonio side on the show
05:54just yesterday, about 24 hours ago.
05:57Wemby, again, monster performance,
06:00added 16 rebounds.
06:01De'Aaron Fox, almost 30 in the win as well.
06:03Cade Cunningham, who might be the MVP
06:05if SGA and Jokic don't meet the necessary games played.
06:1065 threshold.
06:1226 points, 8 assists.
06:14As far as the Jazz go,
06:16they snapped a seven-game skid
06:17in Trey Young's debut for the Wizards.
06:21122-112, the loss for the Wiz.
06:24Young, though, 19 minutes.
06:27Might be sort of a similar situation, obviously,
06:29to the Tatum news that we talked about
06:32in terms of minutes restrictions
06:33coming off of injuries,
06:34although Young, of course,
06:36had played at some point earlier this year.
06:38But 19 minutes, 12 points,
06:40couple rebounds, six assists.
06:41The Jazz won as four and a half point dogs
06:44on the road in that one.
06:45Ace Bailey, the rookie, 32 points.
06:47Let's hear from Trey Young.
06:52Oh, never mind.
06:53We keep going here.
06:53LeBron James breaking the NBA's career field goal record
06:57in a loss to the Nuggets.
06:59120-113.
07:00The Nuggets, with that victory,
07:02cover as three-and-a-half point home favorites.
07:05LeBron broke Kareem Abdul-Jabbar's record
07:08for career field goals in the loss.
07:1015,338 for LeBron now,
07:13finishing the game with 16 points,
07:15which is generally in the neighborhood
07:16of what he gives you night-to-night
07:17at this stage of his career, north of 40.
07:19Jokic, triple-double for, again, the maybe MVP.
07:2428 points, 12 rebounds, 13 assists.
07:26Jamal Murray also factored in with 28 points.
07:29The T-Wolves topped the Raptors at home.
07:31Anthony Edwards, many wondered, would he play?
07:34He did.
07:3422 points in that one.
07:36The Wolves won and covered.
07:37They were four-and-a-half point favorites in this game.
07:40Five straight victories for Minnesota.
07:42The Pelicans, in something of a tank fest at night,
07:45did crush Sacramento.
07:47133-123, a nice double-digit win there.
07:50The Pels covered as six-and-a-half point road favorites.
07:52Zion, Sadiq Bey, Trey Murphy,
07:55all at least 20 points in that victory.
07:57The Kings, worst in the NBA.
07:59Granted, they are decimated, that roster,
08:02by season-ending injuries, but still,
08:0414-and-50 right now.
08:07And Russell Westbrook, we don't have time to play it for you,
08:10but went off on the media after the game.
08:12Obviously, he is not really enjoying
08:13what is going on in Sacramento.
08:15And those among the talking heads
08:17who are weighing in on all of that.
08:19Today, as mentioned, the NHL trade deadline
08:21moves being made throughout the day.
08:23Some of the bigger names to already change homes
08:26ahead of the 4 o'clock Eastern deadline this afternoon.
08:29The Ducks traded for veteran John Carlson
08:32from the Capitals, 36-year-old D-Man,
08:34who was traded early this morning.
08:36And the Caps receiving a conditional first-round draft pick
08:40in 2026, or 27, along with a 27 third-round pick.
08:45And he's getting up there in age,
08:46but the guy is still producing.
08:48Also, the Avalanche, who are the Stanley Cup favorites
08:50on the odds board, acquiring Nicholas Waugh
08:53for a conditional first-round pick.
08:55As much more on the way here on Newswire.
08:58We are halfway home here on Newswire on Sports Grid.
09:05Thanks for hanging with us.
09:06I am Adam Coffman, joined now by Sam McQuillan,
09:09our friend from Legal Sports Report,
09:10a regular here on the program.
09:12Sam, good to see you.
09:14Good to be with you, Adam.
09:16So let's get into some of the news.
09:17I know, you know, the two of us,
09:19we'd love to just keep talking about
09:20the Knicks-Nuggets game tonight as we were backstage.
09:22But you wrote about two U.S. senators
09:25have introduced the End Prediction Markets Corruption Act.
09:29That happened just yesterday,
09:30which would bar top government officials
09:32from buying or selling contracts
09:34tied to the outcome of real-world events.
09:37We know, obviously, the prediction markets
09:38and real-world events with what happened in Iran.
09:41It's been a whole fiasco in terms of
09:44Kalshi and people chasing money,
09:46again, surrounding the, you know,
09:48death of an individual, let alone,
09:50you know, this isn't us wagering on the,
09:53you know, the trading on the side
09:54of who wins a game or who wins an Oscar
09:57or something like that.
09:58Again, real-world events.
09:59So what do you make of this act
10:01and what's to come?
10:04Yeah, legislation is kind of just a product
10:07of where we are with prediction markets right now.
10:10I mean, it's a good question.
10:11It's, you know, prediction markets
10:12really started to take off about a year ago.
10:16They've been around for a long time, to be clear.
10:18They were very popular with the election and everything,
10:20but when they really started to take off
10:21was when Trump got into office.
10:23All of a sudden, Kalshi started offering sports bets,
10:27and that is now about like 85, 87% of their business.
10:31So to be clear, most of the activity
10:33that happens on these prediction markets,
10:35this is why you have all these lawsuits.
10:38You're talking about people being really concerned,
10:41senators mainly, about insider information being traded.
10:43You mentioned a couple of cases.
10:45There's about $500 million placed
10:47just before the Iran strikes over the past weekend
10:51on those strikes happening,
10:53which I've raised questions.
10:55Is there insider trading information being leaked?
10:57You know, anytime you're betting on the outcome
10:59of something to happen,
11:01when it's a government, you know, decision specifically,
11:05there's a concern about, you know,
11:06did someone in the White House talk to somebody?
11:08Did somebody's brother place something on it?
11:10When you talk about the state regulations
11:12that we have with sportsbooks,
11:14it's easier to monitor that stuff.
11:16They have a lot of robust regulations in place.
11:18The issue with prediction markets right now
11:20seems to be the CFTC
11:22is the one that's supposed to regulate this,
11:24but there's really nobody working at the CFTC.
11:26It's very understaffed.
11:28They really have not flagged any of these cases.
11:31So what you have happen
11:32are these instances
11:33where you have these sketchy bets being placed.
11:36You know, you mentioned that the Kalshi had to refund.
11:38That's placed on the Supreme Leader in Iran
11:41to be out by a certain date,
11:43clarifying that that's not a war market
11:45or an assassination market,
11:46which is technically prohibited under the law,
11:49but it's just the Wild West right now
11:50with the regulation, with all these kinds of things.
11:52And I think senators are starting to use it
11:55as a political standpoint of, you know,
11:57we can maybe score some points
11:59by saying everyone's banned from doing this.
12:01And we'll see what happens with this bill.
12:03You know, I'd liken it to the criticism
12:06that happens a lot about
12:08senators betting on the stock market,
12:10which we know has not been able,
12:12they've not been able to pass that,
12:14in part because, you know,
12:15the people that that's affecting,
12:16they're the ones making those decisions.
12:18I don't think they want to do that.
12:19So I wonder what kind of opposition we'll see here,
12:22given the fact that it's only really Democrats
12:24proposing this right now.
12:26G and the Trump administration
12:28has been really embracive
12:30or embracing prediction markets
12:31and, you know, them as, you know,
12:34sources to find information faster than the news.
12:37Like, to these points,
12:38when you have insider information,
12:39we know kind of the news before it happens.
12:42But there's the sketchy part of that is,
12:44why are people making millions of dollars
12:46off of the death of someone?
12:48So I think lawmakers want to use this
12:50as an opportunity to kind of
12:51score some political points,
12:53rein everything in.
12:54But we'll certainly see how it develops.
12:56You know, you often have issues in politics
12:59that start one way
13:00and then they get completely thrown another way.
13:03The prediction markets,
13:04things has been,
13:05that's not even with the sports factor.
13:07And so it's definitely
13:08a really interesting story right now
13:10to keep watching how Washington's appetite
13:12for this stuff kind of develops.
13:14And, you know,
13:14this is where their attention is right now
13:15with this stuff,
13:16because it's pretty crazy.
13:17Well, the Wild West, as you said,
13:19but I'm also just curious,
13:20not that you've got the crystal ball
13:22to be able to tell us,
13:23but I'm wondering what the future
13:25of all of this is
13:26inside the next year or two.
13:28You know, it's being looked at,
13:29being handled very differently
13:31than, say, gambling legalization,
13:33which, as we know,
13:34continues to spread from state to state
13:37to the point where eventually we'll get,
13:39I mean, we're basically,
13:40you know, roughly 80% of the way there
13:42as it is right now.
13:43But with prediction markets,
13:44you're seeing companies jump quickly
13:46to react to the popularity of this.
13:49Sportsbooks creating super apps,
13:52you know, Underdog this week
13:53laying off a quarter of the company.
13:55So it can basically change
13:57a lot of the content direction
13:59into that of prediction markets.
14:01I mean, where are we heading here?
14:03Yeah, I really wish I could
14:06pull out my crystal ball
14:07and predict accurately the future
14:09and, you know, put money on it
14:11and see if I could win.
14:12But I just, I think the answer
14:15of where we're heading
14:15is more uncertainty
14:17and in the short term,
14:18more companies, like you mentioned,
14:20trying to capitalize on that.
14:21When prediction markets
14:22first kind of took off this past year,
14:24there was a little bit of a hesitancy
14:25from sportsbooks.
14:27You mentioned DraftKings
14:28and their super app they're doing now,
14:29FanDuel's doing prediction markets.
14:30There was a little bit of hesitancy
14:32to jump in to saying,
14:34we don't know if this is exactly legal.
14:35We don't know what will happen
14:37with this stuff.
14:37But as the Trump administration
14:39has really embraced this,
14:40they were the ones who lifted
14:41a ban on Polymarket reentering the U.S.
14:44That's why Polymarket is back.
14:46Donald Trump Jr.
14:47is a board advisor to Kalshi
14:48and Polymarket.
14:51Trump's Truth Social platform
14:53is partnered with Polymarket.
14:56It's going to launch
14:57its own prediction market.
14:58So I think what we've seen is,
14:59as the White House
15:00and the executive branch
15:01has really said,
15:02no, this stuff is here to stay,
15:04the sports betting companies,
15:05the likes of Underdog,
15:06they've said,
15:07this is actually going to save us
15:08a ton of money if we do this.
15:09We won't have to pay
15:10any state taxes on it.
15:12Underdog, they got rid of,
15:13I think, like 300 people,
15:15a lot of their workforce.
15:16We can just really go
15:18into a much easier business.
15:19That's kind of what always
15:20the secret of gambling has been
15:22is how do we do it
15:23for a really cost-effective way?
15:26If we don't call it sports betting,
15:28if we call it prediction markets,
15:29we don't have to pay gambling taxes,
15:30and we don't have to hire
15:31as many employees.
15:32So I think as long as
15:34the current administration
15:35is embracing this
15:36and supporting this,
15:37we'll see what the lawsuits,
15:38how they play out
15:39with the Supreme Court eventually.
15:40But as long as the executive branch
15:42is really embracing this,
15:43I think you're just going to see
15:44more people jump in
15:45and try to take advantage.
15:46But then in three years from now,
15:48we could have a totally
15:48different administration
15:49and the laws could be rewritten
15:51and completely changed.
15:52So you just never really know.
15:53I think the only sure thing
15:54is that in the short term,
15:56companies will try to make
15:57a lot of money out of it.
15:59Sam, you noted at the end
16:00of last month,
16:01Missouri sports betting handle
16:02fell about 30% in its second month,
16:06the revenue dropping about 50%.
16:08Online sports books issuing
16:09nearly $600 million
16:11in promo credits
16:12during the month of December,
16:14deductions that obviously,
16:15as you said once again,
16:16gutted taxable revenues.
16:18And so some states
16:20are always going to do
16:21better than others.
16:21Depends on the appetite,
16:22obviously, for gambling.
16:23And I'm sure the teams
16:26at whatever the sport
16:27that are part of those states,
16:28how rapid the fan bases are,
16:30these all come into play as well.
16:32But what do you make
16:32of the early struggles,
16:34failures, even during the state
16:36in the state of Missouri
16:37as it relates to sports betting handle?
16:41Yeah, it's actually been
16:42there's actually been
16:43a lot of good success
16:44for the sports betting companies
16:47in terms of how much people
16:47are betting in the state.
16:49It's just the tax system,
16:50which is kind of messed up right now.
16:52Missouri launched in December,
16:54but they've only made,
16:54like you mentioned,
16:55about $660,000 in taxes.
16:58And that's because the state
17:00allows these operators
17:01to deduct all the promos
17:03they're putting out
17:04from their taxable revenue.
17:06So you have a situation
17:07where a company like FanDuel,
17:08for example,
17:09took $200 million in handle,
17:11paid out $166 million in winnings,
17:14but they also issued
17:15about $55 million in promotions,
17:17which means they got to write
17:18that all off of their taxable handle.
17:20And FanDuel hasn't paid
17:21any taxes in Missouri
17:22for the first two months.
17:23So when you're talking about
17:24the biggest sports betting company
17:26there is not paying taxes,
17:28the lawmakers are going to come back
17:29to the drawing board and say,
17:30okay, we need to get rid
17:31of these promo deductions,
17:32as we've seen a number
17:33of other states do as well.
17:35If this new law passes,
17:37which is being proposed in Missouri,
17:38they would have made
17:39about 57 times more in taxes
17:42than they've made already
17:43in the first two months.
17:43That's quite a difference.
17:45And I'm kind of surprised
17:47that they didn't have this
17:47to begin with.
17:48We kind of saw this early on
17:50the sports betting states realizing,
17:51oh, they're deducting
17:52a ton of promos.
17:53We're making no tax revenue
17:56that we projected.
17:56Let's go out and figure out
17:57a way to change it.
17:58I think Missouri,
17:59late to the game with sports betting,
18:00obviously, is late to the game
18:01as well with this tax change.
18:03But we'll have to see if it passes.
18:05All right, Sam, real fast.
18:06Your Knicks can get this done
18:07in Denver tonight?
18:10I think so.
18:10I would take the Knicks.
18:12There you go.
18:13See, he's not just giving you
18:14the legal news
18:15that it relates to sports betting
18:17and prediction markets.
18:19Sam McQuillan,
18:20Legal Sports Report.
18:21Thanks, sir.
18:21Talk again soon.