Mitch Labiak

And the reason that's significant is because gambling is prohibited in many US states, but trading is not.

So they're able to sort of operate in this way, which many people argue looks a lot like gambling, but it's not regulated as gambling in the US.

No, no.

I mean, well, it's a funny one, isn't it?

So certainly Donald Trump's, as is often the case with Mr. Trump, there's a difference in what Donald Trump says and what happens.

So what has happened is that there's been this lax...

Well, lax attitude towards treating it as gambling anyway, whereas the Democrats are calling for much more stringent legislation.

But the Commodities Trading Future Commission under Trump's administration has been deceptive.

has been happy to keep it that way.

But when Trump has been asked about this personally, he says that he's against prediction markets and he doesn't like what he calls the casino-fying of world events, never mind that his own son is heavily invested in prediction markets.

We're talking, yeah, we're talking, I mean, we're talking sort of, you know, sort of an executive level position.

We're talking sort of, I believe, somewhere around a billion dollars of investment.

But it sort of speaks to sort of how the Trump administration often runs.

I mean, you think of sort of Trump's backing of cryptocurrency from a legislative point of view, and then also some direct investments in cryptocurrency as well.

This certainly seems similar.

It's sort of a new frontier for presidents.

It's not something we've sort of come across before.

So, yeah, a very odd one would be a generous way of putting it.

Yeah, you're precisely right.

I think what excites people about it, so to sort of, you know, people who defend these markets will very quickly say they're better than opinion polls.