00:01let's call a spade a spade this is the biggest anti-prediction market conference in the world
00:09i mean we are talking multiple panels about going after prediction markets and we're talking about
00:19you know burning them at the stake every basically like every different room in session
00:26was something to do with prediction markets and why they're illegal like why they shouldn't be
00:30allowed why are they you know anti-business why should they not be you had a whole series of uh
00:38of tribal gaming heads yesterday on stage talking about how they're going to stop prediction markets
00:45and how prediction markets are problematic and why they should be made illegal and then we saw it
00:50yesterday where the sixth circuit ruled 3-0 against calci allowing states like tennessee
00:56to enforce their gaming laws up against prediction markets so we've seen the third circuit in the
01:02sixth circuit both now go against calci the third circuit went with calci on a 2-1 vote so it's
01:08now
01:09two to one with the appeals courts at some point the supreme court is going to take this up but
01:15i i was
01:17i was walking around yesterday laughing i saw a bunch of different people that i've been you guys
01:21would know matt robotowski and other people who have been on this program who cover the gaming world
01:25and just like we were just laughing together about how negative this whole conference how g2e was all
01:34about the negative side of prediction markets and how prediction markets should not be allowed
01:39now the american gaming association is funded by the by two gigantic mgm and stations two very big
01:48gaming groups here in vegas two of the biggest employers in in vegas so it would make sense that
01:54in vegas they're not going to allow any real nonsense to go on from a prediction market standpoint
02:00because they're not members of the aga and all these different things that are inside the weeds but
02:06something has to be done like i mean like legally something has to be done about this like there
02:12needs to be some regulatory control over what is happening with prediction markets and what is
02:20happening with sports gambling okay you guys know how i feel about prediction markets i don't have
02:25any problem with prediction markets they've been around for a very long time i don't like the
02:30advertising that says it's sports gambling in all 50 states i don't think that's fair i think that's
02:37it's wrong for starters and i don't think because you found a loophole around paspa i don't think that
02:45these companies should be rewarded for it okay i also think that there should be a path to licensing
02:52and there should be a path where either all states or some states or however way they want to do
02:58it
02:59but if you're utah and alabama if you don't want to have sports gambling legal in your state you
03:05should not be forced to deal with that and have a prediction market parachute into your state and
03:13allow that to happen inside of your borders i just don't think that's appropriate this has always
03:18been a state's rights issue for me because we decided that through the supreme court so we have not
03:25had this be decided yet by the supreme court we do need this to be decided by the supreme court
03:31now
03:32there are plenty of people who live in new hampshire or florida who would say look prediction markets are
03:39fair because my state leaders chose monopolies and so i have access to one book i have hard rock in
03:46florida and i have draft kings in new hampshire and that's it so i have to do business with one
03:52company if that one company limits me or boots me out or i don't like the prices that they're offering
03:58i have no recourse so i'm going to go and find either a black market book or i'm going to
04:03go to
04:03a prediction market so that's a tough choice for some people where they don't want to bet in the
04:09black market prediction markets are legal they are legal yes so i'm going to go bet with a prediction
04:14market until somebody tells me it is illegal for me to do that well that creates a really tough choice
04:21for the consumer and it puts the gambler in a very difficult position so we have to find a way
04:27to get that fixed so we're not driving people directly to the offshore markets which is basically
04:35what is going on in multiple states alabama utah for instance people are going to the black market
04:40and so we should be wanting them to gamble fairly freely legally and then keep that tax revenue
04:47in the state so that's the problem with calci and the problem with any prediction market for that
04:53matter they're not paying state taxes they're taking that money out of the state and they're
04:59paying federal taxes that money's going to washington the money's not going anywhere else
05:03in the state and they're paying federal taxes that money to do so that's it for that money's going nowhere
