00:00a major boost here it would appear sam for prediction markets with the president essentially
00:07backing the idea that the cftc should have exclusive control over what or what does not
00:14happen uh certainly that would bode well for prediction markets over the next couple of years
00:19i suspect but you tell me does that is that what that means or is this just simply words we
00:23have to
00:24get to the bottom of it because as we know regardless of what anybody says it does appear
00:28to be more of a state by state issue uh for whether these prediction markets are allowed to
00:33operate or not yeah regardless of what anyone says craig um it's going to be an issue that is
00:40not solved immediately you have 20 something odd states suing prediction markets saying they're
00:46offering unlicensed sports betting you have the cftc which says no actually we're the ones who
00:51regulate this you guys have no power over this suing those states so a lot of people really
00:56think this is all going to be kind of decided like you mentioned on a state by state basis and
01:00then eventually probably by the supreme court who knows how long that will take who knows what the
01:06world will look like then who knows who will be in power but right now uh president donald trump is
01:11pushing more support uh in prediction markets uh way kind of while this all plays out so it is
01:17significant that the president is making more comments in favor of prediction markets he took the truth
01:22social uh publicly kind of you know saying that the cftc is the one that should regulate all these
01:29things and it's really critically important that it does and it thrives he also called out uh a number
01:35of politicians and elected officials uh who have you know been behind various attempts to restrict
01:42prediction markets he called out uh minnesota governor tim walls by name uh minnesota just signed he just
01:48signed a law in minnesota that restricts uh the use of prediction markets in the state largely not
01:54all prediction markets but most um which obviously the cftc is now suing to stop they called out new
02:00york attorney general letitia james who's actively suing several prediction market companies as well
02:06as uh former new jersey governor chris christie who has uh aligned himself with the american gaming
02:11association and been a very staunch critic of prediction markets which he sees as kind of you know
02:17taking away business from casinos illegally and then last but not least uh governor of illinois jb
02:23pritzker who signed an executive order about a month ago to prevent state employees from using
02:28non-public information to profit from prediction markets so this is the furthest trump has gone
02:33publicly supporting prediction markets and kind of you know saying that this is supposed to be regulated
02:39by the cftc so certainly for companies like cal she and poly market they're happy to hear that you
02:44know trump obviously does have a huge investment in the venture himself uh truth social runs its own
02:50prediction market business via a partnership with coinbase it had planned to launch its own fully
02:55owned and operational prediction market but it has reportedly walked back those plans and then of
03:00course the president's son donald trump jr is a special advisor to both cal she and poly market and now
03:06about 87 percent of all activity on cal she is sports which only started right after the president
03:12took office and the activity on the platform in general has gone up about a thousand percent
03:17since he took office again largely on the back of sports um you know the post i would say there's
03:23no
03:23coincidence it comes at a time when scrutiny is at an all-time high in the sector the new york
03:27times
03:28just published an investigation on how crypto and prediction market industries have gained influence
03:33within the trump administration uh so there's definitely a lot of spotlight over the sector
03:38right now but anytime you have the president more on your side on one of these controversial issues
03:43it's definitely something that companies like cal she and poly market are happy happy
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