The prediction market legal slugfest between states and the Feds is going 12 rounds

In recent days, a now former Google software engineer, Michele Spagnuolo, was arrested and charged by the Feds in New York for wire fraud, insider trading, and a laundry list of financial crimes for using information gained from his position to make crooked bets on Polymarket, netting in over $1 million on very long odds. Why is it so important that the Feds are likely going to throw the book at him? It all comes down to regulation and who is in charge of prediction markets. What’s your take on the future of prediction markets? Will they be state, or federally regulated? If you enjoyed the episode, restack, share it, and let us know. We sincerely appreciate it!All the best from both of us On the Fringe,Dave and GavIf you have any insight for us, or would like to be a guest, shoot us a message at [email protected]