Jeremy Maletz

I think institutions...

we're always going to be the slower moving player relative to retail.

And so that's why we really want to sort of hold some of their hands to go through this and figure out a lot of different ways that they can use prediction markets.

Some of it might be an institution connects to a prediction market platform, does a block trade on an exchange with us.

It could be that a trade goes up off an exchange as a swap, but it's licensing the exchange market data.

And we're trying to create as many different setups as possible so that people can do these trades.

And we're going to basically be the facilitator to say, okay, you need a hedge.

We're going to figure out how to let that happen.

I'm not going to go and say that that's a big thing that's happening yet.

We're trying to build out the infrastructure to have as many options as possible because we want institutions to start moving.

So it can be both, but ultimately when I think of what we're really good at and what we're not really good at, we're not necessarily the best in the sort of know every single airline customer business.

So we wanna work with a lot of those other intermediaries.

That could be a broker, it could be a bank, it could be an insurance company.

The people who have those relationships

and are in the business of constantly advising, this is what you should do.

We understand we want to work with them and they could have a very important role in helping to be a part of the infrastructure that gets it from the customer with the risk to us being the ones that have the other side of the risk.

Right.

Yeah.

So we don't make everything.

And honestly, we're not the best to make absolutely everything.