The Degenerate Era

The news of the private markets was prediction startup Polymarket raising a massive round at a $9B valuation yesterday. There’s many crazy aspects of this, but one of the things that stood out was that there are only about 50 employees at the company right now. Hats off to the Polymarket team.

When COVID hit, I fully bought into the degenerate era. Between stock picking and traditional gambling, Americans were flocking for entertainment. I definitely did not predict that the vehicle that degenerates would flock to in 2025 is through the “prediction market” startups. Of course, they are not just offering predictions on real world events anymore. They have gone into where events happen almost everyday which is in sports.

The regulatory agencies do not seem intent on slowing this down although I do see the big money casinos possibly having a say in this down the road. Regardless, the product-market fit here is proven.

Americans love to gamble and this is the era of the degenerate. We’ve only begun to get started.