Why Does Everyone Hate Prediction Markets?

I did not engage in the discourse on X over the weekend because I was flying from Baton Rouge to Lambeau Field to New York (trying to win dad of the year) and then home to Boca Raton.

The discourse

• LeBron James promotes Polymarket

• Popular content creator Flock Fantasy also joins Polymarket

• Underdog shuts down drafts in favor of PMs

The #1 takeaway every time we hit the road is how big of a disconnect there is from the internet.

Negativity, the world is ending, hatred - you see all of that online

Then you walk around an LSU tailgate and you can’t leave without Pastalaya, drinks and hugs from people you’ve never met in your life.

But just because the internet is filled with those things, doesn’t mean there aren’t real humans on the internet

Those people, whose opinions I value, read this newsletter where incentives are proper

What that means is - it’s been easy engagement to hate on prediction markets because you get a lot of likes but there’s rarely been real discourse

You can reply to this newsletter via email ([email protected]) and we can have a real conversation because like I said, I value your opinions.

As someone who got his start in the sports betting industry in 2018 (a week after Paspa was repealed), has worked with Underdog for 6 years, and is generally interested in the conversation around Prediction Markets, I’m very excited for today’s newsletter.

Let’s dive in.