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00:00finally let's get to the state that you know best michigan and the topic that we know best
00:06prediction markets right it's like hand in hand here all right so what's the latest in michigan
00:10um pat you know the cease and desist it's just so bizarre to me that some states are like yeah
00:17no problem just you know operate however you want other states are like nah i mean i feel it feels
00:21like this is like a national regulation coming at some point i think i mean so that's where we're in
00:26in a weird spot is there is the federal regulated cftc who's saying it's okay and that's where
00:33you're seeing the cal she's and the like say hey nevada you can't tell us to leave new jersey you
00:38can't tell us to leave we're suing for the right to be here so those are all ongoing in courts at the
00:44moment michigan is one of those states that i talk about ad nauseum of of seasoned assist letters and
00:50being very uh strict in regulating their market which is again one of the reasons to regulate a
00:55market they've sent nearly 50 seasoned assist letters to a variety of uh sports offshore sports
01:01books online casino sweepstake operators and the like and now you know we're seeing they are
01:08interested in uh the prediction markets they're not exactly saying you can't operate they haven't
01:14sent seasoned assist letters yet they've seen what uh cal she's doing to nevada and new jersey and
01:20and maryland who have all said hey get out um and the courts so far are ruling with cal she
01:25um but they did send a letter to cftc saying they do have concerns and you know we were supposed to
01:31have a cftc hearing on these sports prediction markets which has generated a lot of interest a
01:36lot of handle in states like california and texas where sports betting isn't illegal through sports
01:42books um and so it is a lot of interest in it and the cftc uh said wait a second no we're not going
01:49to hold this and so it's two to be determined whether or not they're actually going to hold this and
01:54actually have more scrutiny in the prediction markets and and how state regulators are saying
01:59this isn't okay with us so how is it okay at a federal level it's a lot happening it's a lot
02:05that's going to kind of continue to shape out as we've seen multiple kind of sectors of the sports
02:10betting industry shape up whether it's the sweepstakes or dfs 2.0 or now these sports prediction
02:15markets uh a lot of different entries not just your fan duels and draft kings
02:20favorites
02:23okay
02:26take okay
02:29take�� here
02:29ahead
02:30take
02:31actually
02:32take
02:33take
02:33take
02:35уш
02:36ok
02:36not
02:37take
02:37but
02:39they're just
02:41so