Prediction markets

Fanatics announced that it was entering the prediction markets game today by launching in 24 states. It’s no surprise as Fanatics has been moving into gambling the last few years. But the big trend right now is these prediction markets which effectively utilizes a loophole to create legalized sports gambling.

Our current government does not seem that they are looking to regulate at all. As such, these startups like Kalshi and Polymarket now find themselves competing with the largest casinos of the world for their cut of the degenerate sports gambling market.

I don’t know how this will end up. I can only imagine that the casinos have these startups and this loophole in their cross hairs and they will spend billions of dollars trying to fight for their right to the market. It’ll be fun to watch from the sidelines.

What I do know that is that gambling is not going away. Whether it’s done through casinos, government regulated companies, offshore, whatever, people will find a way. There is too much of a demand for it.

I’ll do my best to limit my own willingness to sports gamble to vacations to Tahoe or Vegas. As anyone can tell, it’s incredibly addicting.