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00:00But first, we start off with a sports betting story of the day.
00:03It could be a landmark case, depending on how this works out, because Calshi, as of right now, is temporarily
00:09banned from operating in the state of Nevada.
00:11And they've become the first state which Calshi has been removed from being able to have consumers use their event
00:18contracts due to a court order.
00:20The ban will last a couple of weeks while they review the case.
00:23There's a restraining order involved.
00:25So for the next two weeks, they've got to stand pat, and then we'll see what the courts end up
00:30saying here.
00:30It's possible that Calshi will not be able to operate in Nevada, and if this works, other states could follow
00:35suit.
00:36Here is an email that went out from Calshi to their users saying that due to a temporary court order,
00:42our markets related to sports, entertainment, and elections are being restricted in Nevada.
00:47You can still sell your positions.
00:48You can wait for them to resolve, but you will not be able to buy new contracts.
00:53All of our other markets, crypto, weather, and world news available, but obviously sports, entertainment, elections.
00:59As of right now, Nevada says no.
01:03See what the courts say coming up in a couple of weeks.
01:05Also, coming up, we'll have the Masters.
01:07Scotty Scheffler will be playing in that, but he will not be playing in this week's Houston Open.
01:11He announced he is withdrawing from the tournament, which is a warm-up for the Masters because he's expecting his
01:18second child.
01:19Also, Scheffler's odds off the board, he will not participate, would have been the favorite to win this week.
01:24Meanwhile, a familiar face is back on the links, albeit in the TGL.
01:28Guess who?
01:28Tiger Woods will play in match two of the best of three TGL finals.
01:347 p.m. against Los Angeles, he plays for the Jupiter team.
01:38And as of right now, Jupiter is plus 110 to win LA favorites.
01:43Of course, Woods has not played any competitive golf at all, but sees an opportunity to have his team and
01:47Jupiter win.
01:47So I guess he's trying to get back out there to see if maybe he could even participate in the
01:51Masters, which is coming up soon.
01:53Meanwhile, on the eve of opening day, the Chicago Cubs are about to announce a long-term extension, it would
01:58appear.
01:59ESPN does report that Pete Crow Armstrong, who had a 30-30 season for the Cubs last year, was fantastic,
02:06especially the first half of the year, finalizing a long-term extension that will keep him in Chicago.
02:10Guess what, folks?
02:11Opening day is almost here.
02:12It's extension season.
02:14Want to bring that goodwill out.
02:15Well, Cubs are doing that with PCA.
02:17Speaking of goodwill, the Oklahoma City Thunder have had that going all season long,
02:22and yet another long winning streak for them this year.
02:2512 games in a row, longest in the NBA.
02:28They beat the 76ers yesterday and did cover that big line, 123-103.
02:33SGA with 22 points.
02:35Sixers lose despite Vijay Edgecom putting up a 35 spot on Oklahoma City yesterday.
02:40But here is Mark Dagneau on this win streak and basically saying that it's still game by game.
02:47Yeah, we don't really focus on the winning streak.
02:48We focus on the possessions.
02:50We don't even focus on the game.
02:51You know, we focus on the possessions and trying to build the right habits and win the little battles that
02:57exist inside of a possession and just let those stack up throughout a game.
03:01And sometimes you look up and you win the game.
03:03Sometimes you look up and you're up 20.
03:05Sometimes you look up and you have a winning streak.
03:06But we try to stay very present and just continue to sharpen our blade and improve our stuff and compete.
03:15You know, and wherever that lands us, it lands us.
03:19Bit of a surprise in the NBA on a couple of fronts last night.
03:22Let's do the first one.
03:23This was the Pistons beating the Lakers 113-110.
03:27They win despite not having Cade Cunningham.
03:29Dennis Denkins had 30 points for Detroit.
03:33So he's filling in nicely without Cunningham.
03:35Luka had 32 in this game.
03:37Let's hear from the head coaches, J.B. Bickerstaff of Detroit, J.J. Reddick on the outcome of this one.
03:42I mean, you know, again, I give our guys a ton of credit.
03:45You know, there was a stretch there.
03:47You know, that third quarter in particular where things got a little sticky.
03:51You know, we had some turnovers.
03:53You know, we had a little stagnant on the offensive end.
03:55And then they started to make some shots.
03:56But, again, our guys, being who they are, you know, they never give in.
04:01They stick together.
04:02And, you know, that's what I say.
04:04Like, through those ups and downs where some teams fragment, now teams go on a 5-10 run, whatever it
04:08might be.
04:09Like, our guys find a way to come together.
04:11So they eliminate those runs quickly because they are so tight.
04:16You know, because they do want to win, want to play for one another.
04:19And tonight was a great win for our group.
04:21You know, I talked about before the game the growth we've had with being able to bend but not break.
04:28And tonight was another example of that.
04:30You know, really, really sharp and good defensively for three quarters.
04:35First, second quarter, not so much.
04:38And some of that was, you know, we lost Herter.
04:41We lost Robinson.
04:42Jenkins hits a couple back-to-back threes.
04:44You know, the threes, especially given the way we were shooting the basketball in that second quarter, you know, gave
04:50them that lead.
04:51And then, again, to start the third.
04:52But we just, you know, we did a good job of defending.
04:56We did a good job of just staying with it and got back in the game.
04:59So Redick happy that his team did rally, although they didn't get the win.
05:04But the Orlando Magic cannot be happy about this outcome.
05:06The Pacers beat them 128-126.
05:10Pascal Siakam, 37 points.
05:12And the Magic have now lost five straight games.
05:15Paolo Bencaro did have 39 points in this one.
05:18But a 16-game losing streak?
05:21That's not something that you want to have.
05:23And it's over for the Pacers.
05:25Here's Rick Carlisle.
05:26You know, we have not been playing well.
05:30The game two nights ago in San Antonio was very disappointing for all of us.
05:34We talked about it this morning that we needed to make a stand and just raise our level of collective
05:44will with how we're competing.
05:46And guys did it, led by the veterans, you know, Pascal, Andrew, and Aaron.
05:53And, you know, it was a great game.
05:56It felt like a playoff-type game.
05:58And, you know, for Orlando, it is.
06:00I mean, they're fighting for positioning.
06:03The fighting for positioning with the NBA comes down to the play-in games at this point.
06:09It appears as though the Miami Heat could be playing in a play-in game again.
06:12Man and Bob Adebayo had 83 points.
06:15They won their next game, did Miami.
06:17And now they've lost five straight games.
06:19The Spurs beat them 136-111.
06:22Wemby had 26 points.
06:24Told reporters after the game, got to be considered for the NBA's MVP.
06:27Really interesting.
06:28Here is Mitch Johnson on the team staying competitive, despite having a lot of stuff wrapped up at this point.
06:35I think it will probably mean a lot of different things for different people.
06:39I think for myself, it just means that we're heading in the right direction.
06:45And hopefully the organization feels good about the commitment that we've made this year of trying to do things the
06:55right way and not skip steps and being able to see some return of that investment.
07:04And I think we feel like our community, our city, and our fans deserve a competitive team.
07:12And so to be able to say that we are back being competitive and that's what we want to continue
07:17to do, that feels good for me, from my perspective.
07:21Because I've been here when we haven't been as competitive and we haven't been fighting for division championships, let alone
07:29whatever is out there in that vicinity.
07:34Say what you want about Mitch Johnson.
07:36He's done a good job taking over for Greg Popovich.
07:38Meanwhile, the Bulls beat the Rockets in a bit of surprise.
07:41132-124, the Bulls were 8.5-point dogs.
07:44Colin Sexton had 25 points for Chicago.
07:47Yesterday, some rosters being finalized.
07:50In the spring training finale, J.J. Weatherholt announced he will make the opening day roster for the Cardinals.
07:5623-year-old will start, play the infield, and talked about getting the call being named to the opening day
08:04roster.
08:04We talked to Kaim and Ali about you.
08:07And the one thing that they came away with was just your professionalism and the way you carry yourself.
08:12Is that something that you learned along the way, or is that something that just comes natural to you?
08:16I mean, I think it's testament to kind of the people around me, just my parents and how they raised
08:20me.
08:20And, you know, just kind of just striving to try to be a good person.
08:24And, of course, you know, from a religious standpoint, you know, I'm a Christian.
08:27And so I follow, you know, what God calls us to humility and things of that nature.
08:32And so I just try to replicate that as much as possible.
08:35The Mets will also have a rookie starting for them in the outfield.
08:38They announced yesterday Carson Benj is going to be the opening day starting right fielder.
08:43Isaiah Suzuki for the Cubs starts on the I.L. We'll be right back.
08:46Anytime you want to catch up on prediction markets, Kalshi, Polymarket, Crypto.com, all of the above,
08:52make sure you download Dustin Gawker's podcast and also check out his substack
08:56where he writes about this ever-changing industry day by day.
09:01We bring him in now to go over the very latest.
09:03And for Kalshi, I mean, not a surprise here for me, considering the NCAA tournament
09:09in the first weekend is arguably outside the Super Bowl, the most popular betting event of the year.
09:15But for Kalshi, they're finding it's their most profitable predicting event of the year as well.
09:21Yeah, last year, this is kind of where Kalshi got on the radar, I think.
09:25They started with the Super Bowl last year, right, where they started taking a little bit of betting on the
09:30Super Bowl.
09:30But March Madness is where it took off.
09:32And over the course of the entire men's and women's tournaments last year,
09:35they took about $500 billion in trades.
09:38This year, first weekend, Thursday through Sunday, they're already past a billion dollars traded just on March Madness.
09:46Again, both the men's and women's tournaments.
09:48So that's obviously a huge number.
09:50Lots of games left, including the biggest ones left.
09:53You can still trade on who will win the championship now as well.
09:57They're setting record just about every day.
09:59Thursday, the first day of the main tournament, was their second biggest day outside of the Super Bowl.
10:04Just more than $600 million traded.
10:07Kind of goes down over the weekend.
10:08Obviously, fewer games.
10:09But obviously, it's a huge weekend for Kalshi.
10:12They are going to be, they already have, they're surpassing $3 billion every week now.
10:17Pretty much like clockwork in terms of how much is traded.
10:20The only question is, what happens after March Madness?
10:22I've been saying this before, though.
10:23Like, what would happen after football?
10:25What would happen after basketball?
10:26They've been doing, they've been adding partners and adding volume just about every week since the Super Bowl.
10:32And March Madness is a big part of that.
10:35But yeah, once there's fewer things to bet on, MLB, of course, starting this week.
10:39But not as exciting in terms of how much is usually traded on it.
10:44But maybe Kalshi threads that needle.
10:46Either way, big weekend for Kalshi.
10:47I'm sure another big weekend coming up this week with the Sweet 16 and Elite Eight as well, leading into
10:51the Final Four.
10:53Yeah, opening day for baseball.
10:54And then we shift over to NBA playoffs and Masters as well.
10:58So still a lot of huge events coming for these prediction markets.
11:01But the question is, you never know.
11:02Will they be around next week, the week after?
11:04I think so.
11:05But this is just a crazy landscape changing.
11:07And I know that over on the closing line, you wrote about this new bill that in Congress that could
11:12potentially ban sports event contracts.
11:15I would caution this conversation by saying we've heard this now for months and months and months.
11:20And these sort of things come out and then they go away and then they come out again.
11:24And so I guess what's the legitimacy in this one?
11:28Yeah, I mean, every time Congress does something, we have to pay attention, right?
11:31That's, you know, Congress famously doesn't pass a whole lot of laws.
11:35They do have to fund the government and they do do things.
11:38But like a standalone bill to ban prediction markets sounds like a huge lift, right?
11:42But the momentum in Congress was kind of there's nobody's talking about prediction markets even a month ago.
11:47And just in the past month, we've seen more than half a dozen bills on all sorts of things related
11:52to prediction markets.
11:53This one would ban just sports event contracts at prediction markets like Cal Shea and Polymarket.
11:59It's also interesting that it's bipartisan.
12:01It's Senator Adam Schiff, who's a Democrat from California, and Senator John Curtis, who's a Republican from Utah.
12:07California, of course, has tribal casinos, doesn't have online sports betting as we sit here that's legal.
12:13Utah famously doesn't have any sorts of gambling, certainly doesn't have online sports betting.
12:17So these two sort of strange bedfellows coming together is at least interesting in that, you know,
12:23a lot of the pushback we've seen has come from the Democratic side of the aisle in Congress.
12:27So seeing somebody from Utah, seeing a Republican, like, put his name on this bill and saying,
12:33we want to get rid of sports event contracts, I think that's weighed on the scale.
12:36That's interesting. Does the bill get done? It's huge. It's a huge underdog to get to actually be passed.
12:41Could it be added to another bill? It's that is a must pass bill.
12:45Absolutely. That would be a much more likely path than just passing a bill both through the Senate and the
12:49House.
12:49And then, of course, President Trump signing said bill into law.
12:52But yeah, right now we're just seeing a lot of pushback from lots of corners and Congress included state state
12:58legislature, state regulators.
13:00What will come of all this? If you if you have that answer, please let me know.
13:04I don't know the answer. Anybody who tells you that they have the answer, they don't know either.
13:08We're just watching this unfold in real time. And, you know, we'll see what happens with this bill and any
13:13of the other ones that have been introduced here in recent weeks.
13:17Agreed. OK, so here's another question that I would have for for Polymark, not for you, Dustin, but for Polymarket
13:23and for Calci with this idea,
13:26which is a good one is they would like to stop insider trading.
13:30Of course they would. Like, yes, naturally, they would.
13:34But how? Like if somebody has the info, like what's to stop anybody from using this?
13:41So I know that they're going to ban different things to sort of try and combat insider trading and very
13:48specifically when it comes to the stock market and everything else.
13:50There are very, very serious laws against this sort of stuff.
13:55But I mean, we've we've seen this percolating a little bit with these with these prediction markets, especially when it
14:02comes to the political landscape, too.
14:05I think I take this at face value a little bit, Dustin. I'm just not sure that this can be
14:10enforced in the way that they would like to.
14:13Yeah, I mean, a huge open question. Obviously, we're having new conversations almost every week or every month about what's
14:18happening in prediction markets.
14:19And insider trading has become a huge part of the narrative around prediction markets.
14:23And that's not just sports. That's other world events. That's Super Bowl halftime show.
14:27I know we talked about several weeks ago. But yeah, Calci and Polymarket came out both with press releases yesterday,
14:33like trying to hammer that they are doing something about about insider trading and trying to be very serious and
14:39intentional about it.
14:41Like you said, this is not an easy nut to crack to just say, like, you can't just snap your
14:45fingers and say, oh, insider trading is gone.
14:47That's not true. It's not not going to happen. It's a hard thing to police.
14:50But a lot of this is about optics and a lot of what we've seen in Congress and in the
14:56mainstream.
14:56And all of this has been stuff about insider trading and blowback they have gotten because of that.
15:01So they are, you know, being very like, this is it's very intentional from a logistical standpoint.
15:07They are trying to stop insider trading. Absolutely. It's beyond a shadow of doubt, but they are also doing this
15:12from a PR and optics standpoint.
15:14They are trying to say, we are doing something so that somebody doesn't come in like Congress, like, you know,
15:19courts and say, what are you doing here?
15:21This is illegal. You got to, you got to do something.
15:23Even the CFTC, I think with the rules they're putting out there are saying, you guys got to get this
15:27under control.
15:27So this is Couchy and Polymarket really trying to do that. You know, the Couchy put out there doing preemptive
15:33sports screening.
15:34Like if you're a player on a team, they're blocking you before you can even trade.
15:38That's apparently not something that was happening before, and they are now efforting that.
15:42But, you know, like you said, is this going to stop anything? We'll see.
15:45They are definitely trying and they'll succeed and they'll probably be, it won't be perfect, but they're going to definitely
15:50try.
15:51See Dustin's banner up there. You can in the full shot of the Phillies.
15:55He's getting ready for opening day. Good to see the fandom coming back out for the regular season.
15:59Dustin, thanks again. Coming on Newswire. We'll catch up next week.
16:03Cheers. Thanks so much.
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