Vlad Tenev

You know, we want to make sure we have protections as an industry to make sure corporate insiders and other folks weren't using their privileged information about what a company was going to release

to trade ahead of that disclosure being available publicly.

So this has pretty much always been a financial markets thing.

And so I think financial markets have the best tools to deal with it.

I mean, I think our philosophy is if you look at prediction markets, there's a tremendous amount of value in the diversity and variety of contracts.

And what we're actually seeing, similar to trading, a lot of people that actually have strategies.

So it's not, you know, it's not as much of like...

I'm buying a team because I'm a fan of it, but there's systematic trading and people are analyzing these things and they have strategies around it.

And it goes beyond sports.

You guys were mentioning the Warner Brothers merger situation.

If you notice,

The question on everyone's mind is what's likely going to happen to Warner Brothers?

Who's going to acquire the company?

Is it going to be Netflix or Paramount Skydance or neither of the above?

And right now, we look at the stock prices, right?

And we try to reverse engineer what's happening with the situation.

Well, there's a prediction market that we illustrated on the platform.

And you can see last night it was showing 55% chance Paramount would actually be the ultimate acquirer.

This morning it went to 75% Netflix.

So even in terms of what value they provide to the news, it can be incredibly powerful and more direct to zero in on the results of that specific outcome.