Andrew Ross Sorkin
👤 SpeakerAppearances Over Time
Podcast Appearances
I think the biggest thing to watch for is just how much debt –
people go into to actually make these bets.
That is the biggest thing to be concerned about.
Every financial crisis and every time speculation gets out of hand, it gets out of hand because people are using borrowed money.
I don't know if you know this.
If you go to the supermarket to buy a lottery ticket in virtually every state in America, they will not let you buy the lottery ticket with a credit card.
You could not buy the lottery ticket with a credit card.
And we, from a social perspective, decided we don't want people going into debt to be making bets like that, right?
Lottery tickets, unfortunately, even though I buy them, it's like a tax on the stupid, given your chances.
And so that's what I worry about.
I think we have to keep an eye out for just how people are financing all of the prediction market stuff, sports gambling, everything else.
Including CNBC.
I don't get concerned about it.
I actually think that the good news about these things, but it's a different use case, is to think about the prediction markets.
to some extent, as a indicator, a potentially leading indicator of what's going to happen in the world.
It's just, to me, another sort of signal in a lot of noise about what's happening in news.
So I actually think that piece of it's actually quite valuable.
But again, you know,
all the people that are participating in it.
I don't know.