00:00the state of ohio okay let's get to them here because i guess that they are sort of just
00:04resolute in the fact that if prediction markets are going to roll just like our sports betting
00:09operators in the space why is it not fair for us meaning the state of ohio to tax these prediction
00:17markets and by the way it's a fair question i mean prediction markets are operating in the
00:22same space and saying that we're not doing the same thing uh i mean i guess in a way they're
00:27right but not really like in the end you're still trying to predict outcomes of sports so
00:32i get it from ohio but it still falls along the lines with the cftc and kind of where everything
00:38is going which we don't know exactly and so this is kind of exactly what we're talking about here
00:43you know the ohio casino control commission is embroiled in a lawsuit with calci for offering
00:49unregulated sports betting uh recently a judge sided with the state and and denied calci their
00:54request for an injunction to prevent uh the regulator from uh you know enforcing its gaming
01:01rules on the uh the the company so that's why you know we're gonna see many you know multiple states
01:07new york new jersey maryland uh shoot a lot of states are embroiled in these lawsuits right now so
01:14this will get to the the supreme court but what you're seeing now is kind of states trying to get
01:19ahead of it uh to the potential that the supreme court does say hey you can regulate these um versus
01:26the cftc because right now say this passes and ohio does get to say you need to uh apply for
01:33a sports
01:34betting license and you need to pay the 20 sports betting tax uh calci can say no we're not going
01:39to
01:39do it but if the supreme court in a couple years or a year or whenever that might be says
01:44okay states can
01:46do it then these rules are already in place and the states that haven't done anything like this
01:51you know are kind of left on their heels and trying to pass this as as we go the other
01:56interesting thing
01:56there though is for the time being if this does pass it doesn't mean anything from the prediction
02:01market point of view so um that's a story that i did a while ago uh you know talking to
02:07various lawyers
02:08saying you know does this matter right now and no it isn't it's just a preemptive sort of thing to
02:13to make sure that those regulations are in place when there's a time that maybe they do matter but
02:18again for now we're just kind of based on watching the cftc and what they do and what they're saying
02:23um which you know while they are doing their rulemaking process at the moment they're also kind
02:29of saying you know we had leaders in the cftc recently publicly say basically these uh platforms
02:37cal she and poly market and and the like need to be better at self-regulating and and and do
02:43that so
02:43that's you know i think we talked about that last time i was on was cal she you know saying
02:48to a bunch
02:49of uh politicians who bet on themselves in elections uh no you can't do that we're gonna find you even
02:55though there's little slaps on the wrist with you know a couple hundred dollar fines and a five-year
02:58suspension from the platforms they are starting to do that trying to make a bigger um deal out of their
03:04own self-policing to make sure that they have kind of a better reputation from the general public as
03:10you know you've seen a lot of backlash um from people saying well how much insider trading is going
03:17on this is pretty dark and murky so anyway these states are just trying to get ahead of it there's
03:23a
03:23couple other states that have also done similar moves um and so i'm sure we'll see more next year
03:28uh as sessions get restarted next year too
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