Carl Lockhart
👤 SpeakerAppearances Over Time
Podcast Appearances
They're saying, oh, well, we're different from a sports book because for a sports book, you know, the sports book is taking the other side of the bets that the bettors are making.
We don't do that.
You're betting against other users, right?
You're buying and selling these contracts between you and other users.
Billions of dollars in bets are happening every week on Cauchy and Polymarket.
It's mostly sports, but politics is a growing category.
The apps are regulated by the Commodity Future Trading Commission after arguing they are not gambling, but a futures contract.
Carl Lockhart is a law professor who studies prediction markets at DePaul University.
He says the apps are gambling under a different name.
Election watchers say the apps invite rich backers and foreign actors to pour money into an election bet to change opinions, perceptions, or even how people vote.
Billions of dollars in bets are happening every week on Cauchy and Polymarket.
It's mostly sports, but politics is a growing category.
The apps are regulated by the Commodity Future Trading Commission after arguing they are not gambling, but a futures contract.
Carl Lockhart is a law professor who studies prediction markets at DePaul University.
He says the apps are gambling under a different name.
Election watchers say the apps invite rich backers and foreign actors to pour money into an election bet to change opinions, perceptions, or even how people vote.