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08.02.26 - 22:06
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Gambling Stocks Slide Ahead Of Super Bowl As Prediction Markets Shine (ZeroHedge)
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Gambling Stocks Slide Ahead Of Super Bowl As Prediction Markets Shine
The rise of prediction markets ahead of Super Bowl weekend has become a major overhang for legacy sportsbooks, prompting investors to de-risk their equity positions and sending shares of Flutter Entertainment (owner of FanDuel) and rival DraftKings sharply lower year to date.
Today's matchup between Seattle and New England at Levi's Stadium in Santa Clara is expected to drive record trading volumes on prediction markets, according to Jordan Bender, a senior equity analyst at Citizens.
"A big piece of why we think Super Bowl handle will be down is that prediction markets are taking a bite out of that," Bender said.
Since the 2024 presidential election cycle, prediction markets such as Kalshi and Polymarket have attracted growing trading volumes that would have traditionally flowed to sportsbook apps.
Professional sports gambler Rufus Peabody told Bloomberg, "It really feels like everything's prediction mark...
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08.02.26 - 22:06
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Molotov Cocktails, Volatility, Stability, And Faux Liquidity (ZeroHedge)
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Molotov Cocktails, Volatility, Stability, And Faux Liquidity
By Peter Tchir of Academy Securities
Markets have experienced high levels of volatility over the past few weeks. From silver, to software stocks, to cryptocurrency, we have seen violent price swings on almost a daily basis. We have political risks, geopolitical risks, as well as the implications of a rapidly evolving technological shift. We touched on Non-Standard Deviations last week, and are going to expand on that today.
We will attempt to examine the bigger picture of the potential volatility from transitioning from one world economic order to another. We also highlight how liquidity, or in our view, the lack of a true depth of liquidity, plays in this world.
Molotov Cocktails
Gasoline, in a tank (or a bottle) at room temperature, is stable. Apply a catalyst (a rag lit on fire) and we enter the “volatility” phase. An explosive, hot, and unpredictable phase.
Once the heat has dissipated, we are left with CO2 and H2O (carbon di...
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