00:00so so let's move on now to draft kings this is a fascinating story here sam because i i honestly
00:04didn't realize that they weren't using their own prediction market uh technology in order to create
00:09their own platform here and it seems like they want to do so but why didn't they in the first
00:15place sam is it did they just kind of get caught in you know this ground swell of everyone doing
00:20prediction markets and they weren't ready so they had to outsource another company to do it which
00:24to me is like the low-lying fruit here that's what makes the most sense um and so how can
00:29they save money it would be do it themselves but are they allowed to do it themselves like how does
00:33that work with the cftc yeah it's a really good question greg i think you hit it on the head
00:39with
00:39you know draft kings and fanduel weren't preparing for years to launch their own prediction markets
00:44they've been spending all their money on sports betting it actually took them years to own their
00:48own sports betting technology so what we're seeing now is very similar with the prediction market space
00:53you know draft kings went live in december all of a sudden it's trying to compete and uh you know
00:58offer its product in states like california and texas and in order to do so and go online real
01:03quick it had to use third party uh prediction market technology basically it had to use uh stuff that
01:10was approved by the cftc draft kings you know it takes a while to get approved they had to use
01:15somebody
01:15else's technology so they're using crypto.com and cme group right now they're using their contracts to
01:20list on their markets which is why in october they bought railbird exchange which is a cftc
01:26licensed exchange and now it just takes time to implement that technology to get approved so the
01:31latest step that happened this week is they filed to offer their own money lines spreads player props
01:37head-to-head performance markets and eventually parlays basically so draft kings is offering it through
01:43themselves they get to choose exactly what is listed how quickly it launches and most importantly
01:49craig to make as much money as possible for it so uh yeah it's another step in this prediction
01:55market saga and obviously a big part of drafting's business plan for the rest of 2026 it's a
02:01certainly a big move for them we'll see what more comes of it
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