00:00Prediction markets are going nowhere, at least for the time being, it would appear the president is backing prediction markets
00:06up with the CFTC. And if this is the case, Dustin, several years away from really anything happening, I think
00:13substantially, although you would say, Dustin, that state by state is a little bit different than national states could get
00:18potentially more involved as we as we've seen.
00:21Yeah. President Trump posts a lot of things on True Social, his social media platform. But one of the things
00:28he posted this week was about, I mean, last week was about prediction markets. And he says, it is critically
00:34important that the CFTC's exclusive authority over prediction markets is maintained and that they will thrive. Under my leadership, we
00:40are setting rules of the road that are gold standard for the states. We cannot have SCUM, in all caps,
00:45like Chris Christie, Letitia James, Tim Walton, JB Pritzker, setting the rules.
00:50So this is obviously unmitigated sport for prediction markets. It's interesting because just a month ago, I'm sure we talked
00:55about this. He was doing a press conference and said, you know, unfortunately, the whole world has somewhat become a
01:00casino and not really much in favor of prediction markets. This was after some of the other insider trading cases
01:07came out and he's having to deal with that. Obviously, someone said, hey, look, you know, we're the CFTC. We
01:13really like. We run the CFTC. We really like prediction markets. We want them to grow.
01:17Donald Trump Jr. is, of course, an advisor to both Polymarket and Calci. But it underlines, like, this is not
01:24going away under the Trump administration. The Trump administration is going to support this. This is just, you know, more
01:29weight on the scale that President Trump is, you know, not going to sign a bill probably that's going to
01:34rein in prediction markets.
01:34He's certainly not going to have the CFTC rein in sports event contracts or any of this. But you are
01:41right. In the grand scheme of things, this is not going to really change the dynamic between the states and
01:46the federal government.
01:48The states don't want prediction markets. They think it's sports gambling. They think it exists outside of their laws.
01:53And the CFTC and federal government are saying this is this is under our purview. We're in charge. Trump is
01:58agreeing with that. And, you know, this is going to be tied up in the courts for another year or
02:03two, at least.
02:03And it will get to the Supreme Court. So what President Trump says is interesting slash material, but it doesn't
02:10mean that, you know, that prediction markets are here forever and ever.
02:13This is just weight on the scale.
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