Arthur Hayes

Perps seem to be all the rage.

And it seems like Wall Street wants in on the game.

I think a lot of people are talking about perps in crypto.

Do you think it goes to other asset classes and we see it on Wall Street and, you know, NYSE and NASDAQ and all this stuff?

Or like, how do you see this playing out?

How do you play it?

So if somebody hears this, they're saying, I didn't know anything about this.

What, you just go buy the hype token?

You go and you buy stuff on the market?

Explain how you're thinking about, okay, you've got this thesis.

How do you profit from it?

Prediction markets are also coming to Wall Street.

We've seen NYSE make some big bets there.

Do you think that the prediction markets can be as successful on Wall Street as they are off?

Yeah, like one of the things I've been surprised by with the prediction markets is like sports gambling obviously has gotten a bunch of fanfare, et cetera, and no shock there.

But I would have thought that, hey, I want to buy Tesla stock today because I think they're going to beat on deliveries.

But rather than make the bet on the stock, if I could just isolate that economic data point and I can just bet on is Tesla going to beat on deliveries or not, like as an investor, right?

That's way less risky.

It's like I'm just underwriting this one thing.

I'm not also thinking about what's going to happen with revenue and EPS.