Ryan Sean Adams

David, let's talk about this big fight that we were teasing in the intro here.

The fight over prediction markets.

And maybe we should start with this clip.

From the new CFTC chair and past Bankless Podcast guest.

More notably, past Bankless Podcast guest.

Mike Selig.

All of the negative responses weren't saying like we should get rid of sports betting or sports contract trading.

They were basically, it was more like a turf war.

They were basically saying like the CFTC shouldn't regulate that.

And also, I felt like all the negative takes were ignoring the positive things that Mike Selig was talking about, right?

Which is like,

You have the U.S.

leading on this, keeping media in check.

These are information markets, and that's all true, too.

So it's all being smushed together into one monolithic thing, and it seems to me more of a turf war than anything else.

Sure.

But a lot of people don't even want those.

Do you remember, I mean, obviously, it was just over a year ago when Shane Copeland, the CEO of Polymarket, was just like raided by the feds.

And you recall, previous to that, letters that senators like Elizabeth Warren wrote

about prohibiting political markets on prediction markets, right?