00:00Todd, why dip back into the markets? Yeah, that's right, Denny. I mean, Polly Market,
00:03Calshi, the two biggest prediction markets have both been out there raising pretty much non-stop
00:08since inception, right? The fever around prediction markets, you know, both from the regulatory side,
00:13the scrutiny that they're getting from the user's side, you know, particularly with the World Cup
00:17that's boosted activity in recent months, and also now from the investor's side, you know,
00:21they're very, very interested, and particularly the hedge fund side, the exchanges who are looking
00:26to get in early on these projects. In particular, one of the things we've reported, which hadn't
00:30been previously reported, is that their April raise closed with new investment from DE Shore,
00:35which is a pretty big name in the hedge fund space, one of the earliest big quantitative
00:39investment funds, Algo Trading, started in the late 90s, and that firm has now gotten in on this
00:45game after, you know, big names like Jump Trading, you know, Jane Street Kotu has also invested now
00:51in Calshi as well. They were an early investor in Calshi. Calshi raised at a $22 billion valuation
00:58back in May. So now Polymarket, which was the early leader in this race against Calshi,
01:06they've fallen behind. You know, we've reported extensively on, you know, some turmoil operationally
01:12and legally for Polymarket in particular, and they're trying to really regain their footing right
01:16now. I was going to say, how, I mean, I guess it doesn't deter investors from jumping in, right?
01:20Some of the regulatory concerns around Polymarket? I mean, it's certainly, it's certainly, it would
01:25certainly be a worry. The CFTC, you know, we've reported that CFTC have, you know, have launched
01:30a broad investigation into Polymarket and particularly as well at some of their marketing materials after
01:35a Wall Street Journal report earlier this year said that they were basically pushing fake marketing
01:39materials, showing influencers who were winning bets that basically weren't real. You know,
01:44Polymarket said they're doing a full audit and, you know, they're reviewing everything. And Polymarket
01:48has now also brought on a new chief growth officer, a guy called Travis van der Zanden, who was a
01:54former C-suite at Lyft and at Uber. He was a head of international growth for their driver's operation
02:00internationally. He's just relocated from Miami to New York to help basically, you know, reshape
02:05that marketing push that's come under scrutiny at Polymarket.
02:09Okay.
02:09Tom.
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