Coleman Strumpf

Yeah, right. Well, maybe it's a gateway drug to being an economist. I don't really know. But at any rate, if you're... wanting to sort of pretend you're running a legitimate place, you'll take a name brand and you'll just switch a letter. And they literally get old containers or wrappers from legal stuff and they'll put it around the legal stuff.

Yeah, right. Well, maybe it's a gateway drug to being an economist. I don't really know. But at any rate, if you're... wanting to sort of pretend you're running a legitimate place, you'll take a name brand and you'll just switch a letter. And they literally get old containers or wrappers from legal stuff and they'll put it around the legal stuff.

Yeah, and these are from a few years back, but I would say the number is probably still about whole.

Yeah, and these are from a few years back, but I would say the number is probably still about whole.

Yeah, and these are from a few years back, but I would say the number is probably still about whole.

And on top of that, there's the social norm. I live in North Carolina where it's not so different from what I remember growing up. In New York, in San Francisco, all California, the norm about how acceptable is cannabis as a thing to be using, much more accepted today than it used to be. It's going to spill over to the illicit side as well. So I would argue demand is probably much higher.

And on top of that, there's the social norm. I live in North Carolina where it's not so different from what I remember growing up. In New York, in San Francisco, all California, the norm about how acceptable is cannabis as a thing to be using, much more accepted today than it used to be. It's going to spill over to the illicit side as well. So I would argue demand is probably much higher.

And on top of that, there's the social norm. I live in North Carolina where it's not so different from what I remember growing up. In New York, in San Francisco, all California, the norm about how acceptable is cannabis as a thing to be using, much more accepted today than it used to be. It's going to spill over to the illicit side as well. So I would argue demand is probably much higher.

in the next, you know, five, 10 years? I usually, when I try to make a forecast, I look at these markets to answer the question rather than try to answer it on my own. Things look pretty promising, but everything is going to be governed by what a judge will maybe say about these things. There was a lot of enthusiasm about these markets this time.

in the next, you know, five, 10 years? I usually, when I try to make a forecast, I look at these markets to answer the question rather than try to answer it on my own. Things look pretty promising, but everything is going to be governed by what a judge will maybe say about these things. There was a lot of enthusiasm about these markets this time.

in the next, you know, five, 10 years? I usually, when I try to make a forecast, I look at these markets to answer the question rather than try to answer it on my own. Things look pretty promising, but everything is going to be governed by what a judge will maybe say about these things. There was a lot of enthusiasm about these markets this time.

They did a pretty good job at forecasting the election. You argue they do, on average, better than polling, yes? Yeah, definitely. There's a fundamental difference between polls and these markets. The way a poll works, which is probably what most people in the audience are familiar with, is you talk to a bunch of people, the representative of all voters, and you see what they're thinking.

They did a pretty good job at forecasting the election. You argue they do, on average, better than polling, yes? Yeah, definitely. There's a fundamental difference between polls and these markets. The way a poll works, which is probably what most people in the audience are familiar with, is you talk to a bunch of people, the representative of all voters, and you see what they're thinking.

They did a pretty good job at forecasting the election. You argue they do, on average, better than polling, yes? Yeah, definitely. There's a fundamental difference between polls and these markets. The way a poll works, which is probably what most people in the audience are familiar with, is you talk to a bunch of people, the representative of all voters, and you see what they're thinking.

These markets are supposed to work in a totally different way. You step outside your own experience and say, look, my goal presumably is to make some money at forecasting the election. Well, that has nothing to do with what I think in terms of who I like. I'm trying to guess what other people like.

These markets are supposed to work in a totally different way. You step outside your own experience and say, look, my goal presumably is to make some money at forecasting the election. Well, that has nothing to do with what I think in terms of who I like. I'm trying to guess what other people like.

These markets are supposed to work in a totally different way. You step outside your own experience and say, look, my goal presumably is to make some money at forecasting the election. Well, that has nothing to do with what I think in terms of who I like. I'm trying to guess what other people like.

Everywhere and anywhere.

Everywhere and anywhere.

Everywhere and anywhere.