Smash Notes
Why Did Draftkings Report No Cannibalization Between Sports Betting and Prediction Markets?
DraftKings and FanDuel look at Kalshi as competition even when the engine underneath works differently. The house always wins is not how an exchange works. On a DraftKings earnings call, the CEO said the company is seeing no cannibalization between sports betting and prediction markets, because users understand them as different products and engage with them in different ways. Both can coexist while users pick what they want.
A bar in New York used Kalshi as a hedge during a Knicks championship run so it could offer free drinks if the Knicks won. The hedge is a use a sports book does not sell in the same way.
Masters of Scale
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Kalshi vs. Everyone: Co-Founder Luana Lopes Lara on the lawsuits and the long game
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at 10:29
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·Transcript
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On this episode
- How Did Kalshi Move From a 2021 Launch and a Five Billion Valuation to 22 Billion After Four Regulated Years? Transcript
- Why Is New York Suing Kalshi for Thirty Six Billion Dollars in Kalshi's Home State? Transcript
- Why Does Kalshi Grow a Lot by Running a Federally Regulated Exchange Rather Than a Sports Book? Transcript
- Why Did Draftkings Report No Cannibalization Between Sports Betting and Prediction Markets? Transcript
- Why Did Kalshi Reimburse More Than Two Million Dollars on the Iran Supreme Leader Contract? Transcript
- Why Do About Seventy Eight Percent of Kalshi Visitors Look at the Data Without Placing a Trade? Transcript