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Notes -
Yeah but this is a bit of a deranged cycle.
'Offer new gambling product that isn't currently covered by legislative grounds, tax/who can bet in particular' -> 'Figure out how to bring the super popular bits from existing apex gambling products like Sportsbetting, Slots Machine and Casino into your new gambling product using the loophole' -> 'Gradually crank your new product from 90% 'new innovative loophole' to 10% 'new innovative loophole' as people enjoy the perfect ed apex gambling products' -> 'Eventually submit to new regulations, frequently involving sanding off the edges/uniqueness of the original thing that made your product at all different. Also get hit with similar levels of taxation since the govt is always gonna squeeze gambling, so you've once again reinvented the wheel'.
I've worked all across the gambling industry. This cycle plays out every 5-10 years consistently. DFS & Social Casino were the prior big USA entrants. Prediction Markets are the latest incarnation, and are honestly even worse since 'exchange betting' wasn't even a good end-result and has essentially been dying off in other geos for decades now. Polymarket and Kalshi will and are in the process of slowly killing their non-sports offerings since they're controversial, hard to price, hard to create rules for and tend to generate bad optics.
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