DraftKings co-founder says every sportsbook in America is building a prediction market right now and Kalshi is about to get decimated by competition
"There's not a sportsbook in the US who's not building an exchange right now. DraftKings, FanDuel, Fanatics, MGM. DraftKings just acquired a company called Railbird, and it's basically the same exact thing as Kalshi. It'll all just going to be in house stuff built by real consumer product teams that have real instinct around the customer and know how to actually make a normal person happy."
"That's the whole reason I don't think Kalshi has anything durable here. You have a couple months where maybe you're a first mover. But once the competition is there it's going to decimate them."
Thrilled to be building @OG_com & @cryptocom prediction markets with marquee partners across the U.S. and globally.
Battle tested technology, always working payment rails, deep liquidity, VIP servicing, industry-leading protections, and same-game parlays supported across all sports and industries.
-DraftKings
-ERshares
-Fanatics
-High Roller
-Hollywood.com
-MyPrize
-Plaee
-TruthSocial
-Underdog
More to be imminently announced!
DM for partnership info. 🙏
Draftkings Prediction Markets now live on https://t.co/pFc4Pz9nFR 🔥
Great work from teams on both sides getting the product live just in time for Super Bowl 💪
Welcome to the new era of social prediction markets with OG. Thrilled to finally unveil what we believe will be the best sports prediction market offering, and the leader of a new way to socially engage with event contracts. Thrilled to see Nick Lundgren taking on the CEO role -- @esqCRO is the original sports prediction market pioneer and OG is well positioned to shake up the market. Watch this space. https://t.co/0K9Y6hOdHN
High Roller Technologies, operator of online casino brands High Roller and Fruta, have announced a partnership with Crypto-dot-com to launch an event-based prediction markets product in the U.S.
Prediction markets have a surprisingly long history. The first documented case dates back to the 1500s, where people bet on who would be elected Pope. Now, in 2024, the U.S. has its first legal, regulated prediction market. #predictionmarkets#history
Prediction markets are becoming increasingly popular, with billions traded on events like the Trump-Biden election. These markets, like Kalshi, allow people to place bets on future outcomes, including sports contracts, similar to the stock market. #PredictionMarkets#Kalshi
Mention markets on Kalshi are popular because they're fun. You can bet on whether someone will say certain phrases during an event like a White House press briefing. Odds shift live, offering a new way to transact and get opinions on current events. #predictionmarkets
Prediction markets aren't like traditional sportsbooks. You can trade your position like a stock, capitalizing on changing odds before the event concludes. Sell high if your team scores early, or buy low if they're expected to rally! #PredictionMarkets#Trading
Understanding market sentiment and analyzing financial institutions' commentary, such as Goldman Sachs' conference calls, can provide valuable insights into the economy and market trends. #FinancialMarkets#MarketSentiment
From gas prices to Elon Musk's wealth, people are betting on the future. What will announcers say during the Chicago game? What will Powell say in October? It's all part of the mention markets. #finance#markets
The market requires a convergence of bids and offers; someone must accept the terms for a transaction to occur. Understanding the dynamics of order books is key to trading. #trading#orderbook
In a free market, some people will win and some will lose, like sports betting or the stock market. These markets are efficient and simple. #freemarket#investing
Prediction markets gain accuracy as more participants engage, creating smoother, more liquid markets. With over 50,000 daily traders on Kalshi, the volume and financial motivation drive professional participation. #PredictionMarkets#Kalshi
It may sound wild, but many individuals use algorithms and research in crypto to predict market movements. When combined with sharp analysis and risk management, it can lead to profit. There are also market makers that provide liquidity. #cryptocurrency#investing
With the CFTC easing restrictions on Kalshi in 2024, the U.S. now has its first legal, regulated prediction market in modern times. The platform's user base is growing, and Donald Trump Jr. has joined as an advisor. #Kalshi#CFTC