Mike Pesca

And think about this, right?

These guys, some of them, let's say you come from a community that didn't have a lot of money.

You don't have enough to throw money around to them, but you want to throw them a bone.

All right.

You know, I see how these individual players rationalize it.

I'm just trying to help on my pals.

I want to help them make a couple of bucks.

This is something I can do for them.

No harm, no foul.

I really think that's the rationalization.

But then, you know, well, it's what's funny about the prediction markets.

It's like,

look i i am i'm trying to keep an open mind about the prediction markets um we used to call the prediction markets the stock market but i'll set that aside here a minute like i would argue that that kind of served as the prediction markets at least when it came to non-sports events right certain stocks went up or down based on oh the economy economic numbers are based on right

Oh, like remember when when Ozempic first took off, suddenly didn't Frito-Lay stock collapse or something like, you know, oh, no, nobody's going to nobody's going to eat snacks anymore.

Snacking is dead, you know, or good luck with Edmonds.

Like that's a brand that might disappear with with everybody taking Ozempic.

But it's the it's it's the fact that CNN signed a deal with Kalshi.

like incorporating, like is it, what does this fact tell you about Susie Wiles now being at the top of this prediction market?

Is it just a whole bunch of people wanting to react to something that happened in the news?

Or is there somebody with insider information, right?