00:00one of the few states that we're looking forward to actually getting legalized sports betting and
00:05that would be california is it possible that the gaming association and the tribes get back to
00:11this i thought we made some progress several years ago with all of the ads for and against
00:16that didn't happen is california the next big state to legalize sports betting
00:24yeah well there's only really three big states left that haven't legalized sports betting which
00:28is california texas and georgia texas and georgia aren't getting close anytime soon which is why
00:35to answer your question craig i would say california could possibly be the next big one it's kind of
00:40crazy to think about that it was already six years ago that you had those ballot propositions you
00:45alluded to the prop 27 and prop 26 which were two competing measures one from the tribal indian
00:52gaming associations that have a lot of influence in the state and the other from sports books like
00:57fanduel and draft kings embed mgm it was actually the most expensive uh ballot proposition in u.s
01:03history there was over 400 million dollars spent on it and it just got about like 16 of the vote
01:09each
01:09so it really failed miserably the story in california has essentially been tribes have all this lobbying
01:15power and if they don't want sports betting uh done or done on their own terms rather it's not going
01:21to happen but it seems like that might finally be changing uh which the sports betting industry you know
01:26a lot of it has been very vocal against prediction markets they might actually have prediction markets
01:32to thank for this uh because james sieva who is the chair of the california nations indian gaming
01:38association came out this week at a conference and said basically because prediction markets are now
01:44offering sports betting in the state eating into the tax revenue revenue that you know the tribes would
01:49have gotten if they had cut a deal and allowed sports betting in the first place they're now much more
01:53incentivized to actually uh get sports betting done uh talking about how they could uh try to propose
02:00something to put on the ballot uh in 2028 which is only the next time that a ballot proposition like
02:06this can pass in california so unfortunately it wouldn't be this november it wouldn't be next november
02:11it would be about two years from now that something finally gets on the ballot now again a lot can
02:16change in
02:17two years just a year ago we didn't even really have sports prediction markets and we were talking
02:22about uh these sports betting companies working with the tribes to come to some agreement where
02:27the tribes got most of the revenue and an operator like fanduel or bet mgm would partner with them
02:32that's kind of out the window now from what i understand now that fanduel and draft kings have
02:38gotten in prediction markets of their own so it'll be really interesting to see what actually the
02:42tribes proposed but again it's two years from now where this could possibly happen so a lot can
02:47change from now to then but it is pretty big news that the tribes are finally saying okay i think
02:52we're going to finally try to get sports betting done this time around but again anything can happen
02:56in the lens so we'll have to see what what changes
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