Joined September 2021
If only there was a better way
I've seen signs of FanDuel using account-specific pricing on SGPs before, but this is insane. Saw 3 different quotes on the same combo. Same selections, same jurisdiction, different odds? How is this not getting regulatory scrutiny? Especially with zero transparency.
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Not great
So, for those of you who missed it, Illinois just dropped its draft rules for their no good, very bad Digital Asset Tax and, y’all, it’s a mess, especially for DeFi. The proposed rules would treat a DEX (not an interface, the protocol itself) that charges a “protocol fee” as a “broker” that must register with the state, collect a 0.2% tax on the full value of every swap by an Illinois user, and keep each user’s address, IP, and W-9. Effectively mandated KYC. It also requires brokers to keep customers’ private keys… I don’t even know where to begin on that one. Essentially a worse version of the repealed IRS broker rule. Thankfully @BlockchainAssn, @crypto_council, and the @DigitalChamber have sued the state, but we need a full court press on this from a political and policy perspective. It’s my personal #1 priority, because I doubt Illinois will be the last to try this.
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So curious to know what the CACs for Kalshi and Polymarket are looking like
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And the actual victims get like $2 and a lifetime of living with the consequences
Massachusetts just helped secure a historic $17.1 BILLION settlement with Meta. Teens will get a 2-hour daily Instagram/Facebook limit, no access from midnight-6AM and silenced notifications during school hours. Massachusetts gets at least $366 MILLION from the settlement.
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Nice way to stay on top of new market filings
Today we are launching the first ever CFTC API. As applications for product filings continue to grow (including all new regulated perps) we now offer a way to pull new filings and parse their documents.
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.@GoDaddy is such a garbage company They cite a $770 renewal fee for .FUN domains in one email, and $70 in another
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Would love to get cashback rewards from my @RobinhoodApp gold card in the form of stock tokens on Robinhood Chain
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Jack Fitzpatrick retweeted
CME is ceding the battlefield. CME did $6.5M in event contracts on Wednesday. Kalshi did $1.2B (200x). FanDuel is leaving CME for crypto*com. Rather than compete in perps, CME is suing the CFTC to stop them. The old man outlived his era.
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Someone should formally study voter engagement as a function of prediction market activity. People with skin in the game pay attention. An engaged electorate is something to nurture, not punish
🚨Red-hot rhetoric from Kalshi, attacking election officials in Wisconsin. Kalshi is accusing them of "voter suppression" and trying to "disenfranchise voters" — for (accurately) notifying residents that state law disqualifies them from voting in any race they wagered on. (1/3)
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Jack Fitzpatrick retweeted
tokenization will eat the entire financial system
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I really thought Polymarket would take back more ground via the world cup given their international presence but Kalshi was ready and has done a great job defending its rank. Still comfortably climbing and roughly 2x Polymarket's combined volumes
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This is what it’s all about 🎯 hell yeah Ice cream hedging via weather markets
"Ice cream is one of the most weather-dependent products in the world," explained Jiang, who worked in corporate banking before swirling soft serve. "We lose about 20 percent of business when the weather goes below 70 degrees... So we're essentially hedging that profit loss on the app.
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Very chill time to be a young adult Great read. Look forward to nothing changing 🙂‍↕️
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this sounds a million times better than the status quo
Hinge's founder has created an AI dating app that's straight out of Black Mirror There are no profiles or matches to swipe through – the AI decides who it thinks you will be compatible with
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swiping feels way more black mirror than smart matching bet they monetize if you want to see a match's face before making contact
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Underdog beginning to self-certify Definitely a team to watch as they begin to stand up their own exchange and unwind dependencies on third party DCMs like @cryptocom @Kalshi Very curious to see how they perform
Underdog has self-certified the first contracts for its in-house exchange, a sign that it may soon be able to launch them to the public.
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Today in @matt_levine's Money Stuff — firm files for a sports betting ETF where your funds are used to bet on sports These kinds of vehicles are the future and the programmability of prediction markets will make them the most suitable home for this kind of innovation long-term
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Eventually we will see a strategy meta where the best trading shops on the planet compete for liquidity by executing on a range of diversified strategies This competition will breed a slew of new products. We'll see regional baskets, single team strategies, city baskets, etc.
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It may get frothy for a while but eventually I see this being a major positive and a great step forward in swinging the pendulum away from gambling toward investing
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