Jeremy Maletz

But there was a big market that existed.

And then prediction markets basically came around and they provided a better way for sports to trade.

So it was natural that there was going to be this massive base from the start.

But what we're seeing is it's dragging up all of the other things.

So it's brought awareness to prediction markets.

And the more we see that, the more we see everything else growing.

And by the way, a lot of that other stuff, the real market, they're growing at a faster rate than sports, just from a lower starting point.

And our goal now is really to boost that with the hedging cases, which that's growing too, but it's not a huge part of the market as of now.

And we understand it needs to be.

From an ecosystem perspective, it's essential that those hedging trades become a much larger part of what the market is.

Right.

So honestly, there's not a one size fits all because there's so many different things out there.

So if you're thinking about kind of what's the Fed going to do next, there are instruments that capture that reasonably well.

And same thing as what's the price of the S&P 500 going to be at the end of today, for example.

There are other instruments out there that capture that reasonably well.

And really, this is just distilling it into a way that might even better capture the idea someone has.

There's quirks to the other types of things that you might have that are the proxies.

So we can translate what's happening in the traditional financial markets to prediction markets.

For other products, that is sort of, is this random one-off event going to happen in the world?

Is the Strait of Hormuz going to be open by the end of August?