Ryan Knudson

Exactly, exactly.

So elections, like the Federal Reserve meeting, you can basically put money down on the outcome of these future events that they pay off if your prediction is accurate.

And the type of contract that has made quite a splash is sports.

So these prediction markets are available for sports games and entertainment events.

So not only can you bet on or hedge your portfolio against who's going to win the election, for example, but you can also bet on the winner of, you know, the Monday night football game.

Right, right.

That's essentially the question that critics are asking.

These things function like futures contracts, but on their face, they really resemble just plain sports gambling.

Exactly.

So Robinhood is not necessarily new to this criticism of blurring the lines between proper investing, quote unquote, and outright gambling.

But this really raised eyebrows because it seemed to blur those lines in a newer and bolder way than ever before.

So I think it's worth noting that there is a conflating of investing in entertainment that seems to be happening there, that especially when we're talking about the events in the presentation is very intentional on Vlad's part.

I mean, even the earnings calls are designed based on NBA postgame interviews.

Yeah.

Yeah.

I mean, it's like it couldn't be more different from the way that Vlad talks about investing and finance, which is kind of exciting and futuristic and kind of almost makes you want to be a part of this movement and this club.

Yeah.

The flip side of that is what happens if, or I should say when, markets go the other way.

Individual investors have more choices and ways to take on risk than ever before.

And that has compounded their gains in the good times that we've seen recently.