Pinned
Spoke at @semafor World Economy last week on the question behind the "is prediction markets gambling?" debate. Full talk + writeup:
jasontrost.com/notes/semafor-…
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Jason Trost
3,042 posts
Jason Trost
@jasontrost
Founder & CEO @smarkets
Building prediction markets since 2008 - billions traded
Markets work better when they’re transparent
Father. London.
- Sports betting and trading are converging because they’ve always been the same. Both deploy risk capital on uncertain outcomes. Both rely on information to set prices. Most participants lose net of fees. We called one “investing” and the other “betting.” That was always a
- Replying to @paulgMonopolies are profitable, and it's easy for startup investors to exit to them. I don't see how investors disagree with Warren?
- It's embarrassing and unethical that Betfair has not halted their presidential market. One of the important principles of betting markets is to stop taking bets after the outcome is known.
- .@moochfm drops right now. Another exciting podcast. Learn to live a success then live it up!! Episode 15 features @GrantCardone, @AVSeebohm & @jasontrost Grant Cardone, Annastasia Seebohm & Jason Trost - Mooch FM mooch.fm/grant-cardone-…
- Replying to @guypbensonCongrats Guy! Love that you were rocking Wildcat purple during the boat ride.
- Replying to @tedcruz and @allahpunditFree speech protection shouldn't include lying
- Over £76m traded on 2019 Grand National on @smarkets. Amazing. That's 33% more than last year! So excited about our continued growth.
- EXCL: @smarkets has raised money from US trading giant SIG to fuel expansion into the newly deregulated American sports betting market. It marks the first time Smarkets has raised outside money since 2013 and comes amid a gold rush in N. America uk.finance.yahoo.com/news/smarkets-…
- Proud of the cumulative traded volume growth on @smarkets over the years. The very first trade was at the end of 2009, since then: £100m - April 2012 £1bn - March 2015 £10bn - July 2018 And now we're at over £13bn!
- Take any sportsbook. Let users set their own odds. Add politics, economics, tech. Allow trading positions. Stop banning winners. Add API access. Remove the slot machines. Boom — you’ve invented prediction markets.
- Putting a Barstool logo on a white labeled software provider isn't likely to be that interestingIf quarentine has proven 1 thing it’s that it’s gonna be a jail break when the Barstool/Penn gambling app launches.
- Replying to @contessabrewer and @CFTCThat's right. kalshi is regulated federally as a financial marketplace though the CFTC. The CFTC is (for now) against allowing election contractions but a federal judge gave Kalshi the right to offer those contracts temporarily.
