Gentry Davies

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📍 NEW: NBA Star Victor Wembanyama asked if he would ever sign a deal with a sports betting company: “Absolutely not. Honestly, I think it’s very sad to see some players promote it.”

I can't say enough how much of a change this was for me I thought I mostly didn't like kids Instead it turns out I was missing a piece of human software

i think ultimately the issuing side's best positioned for consumer machine commerce vs. the wallets / networks / wrappers. the issuing side: • controls the auth (i.e., truly, ultimately decides if money moves) • can program the delegation layer (merchant / MCC, time, amount, duration etc.) • owns the downside ... so CARES fundamentally (fraud, disputes, CS, refunds) • knows the customer and owns IDV (has customer relationship, can provision, has events/signals) hard to see issuing side giving up scope to other players here medium- longterm. wallets own interface, networks own protocol, issuing owns permission. interface/permission seem most critical-

The combined monthly global trading volume on #Kalshi and #Polymarket more than doubled in the span of two months. 📈 This increase was mostly due to a large uptick in sports trading, which is now the most-traded topic on both platforms. Have you ever traded on a #PredictionMarket? ⬇️

Does anyone have any contradicting data? I’d love to see it if so. Genuinely interested in exploring this.

Sports betting has increased 13x since states began legalizing it 8 years ago, disproportionately concentrated among young men. This is a self-inflicted disaster in-the-making. The main problem isn't that gambling is "rigged" in favor of the house, though of course it is. Competition from prediction markets like Kalshi, brokerages like Interactive Brokers and Robinhood, and exchanges like CBOE and NASDAQ are actually bringing market fees way down. The deeper problem is that gambling is addictive and financially volatile. Even if the house took 0%, most people do not need an extra source of large financial swings in their lives. Nearly half of Americans have < $400 of savings. Recent research links the rise in sports betting to higher debt, delinquency, divorce and and domestic abuse. There is a reason that gambling has been restricted widely across societies and history. This issue is one where economic progressive and social conservatives should be able to find common ground. Policy created this problem and policy can fix it.

Prediction markets are gambling.

Mike, I appreciate you attempting this with a straight face, but I don’t remember the CFTC having authority over the “derivative market” of LeBron James rebounds. These prediction markets you are breathlessly defending are gambling—pure and simple. They are destroying the lives of families and countless Americans, especially young men. They have no place in Utah. Let me be clear, I will use every resource within my disposal as governor of the sovereign state of Utah, and under the Constitution of the United States to beat you in court.