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Greg Casar: “70% of the profits from these so-called prediction markets…”

Featuring: Greg Casar, Democratic | U.S. House, Texas, District 35

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Congressman Greg Casar discusses The CPC's New Affordability Agenda at CFA's Consumer Assembly

Published | Video Starts at 06:41

I mean, you can't watch the super bowl without seeing like five ads for these things now. And what many people don't know is that 70% of the profits from these so-called prediction markets go to just 0.04% of the betters. Why is that? That is because there is rampant insider trading in these unregulated prediction markets. They're built for rampant insider trading. (06:41–07:00)

CLAIM

Asserts that a small percentage of betters receive the majority of profits in prediction markets.

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Greg Casar

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