On this special crossover episode of the Business of Betting podcast and Zero Latency: An Eilers & Krejcik Gaming Podcast, Jason Trost of Smarkets sits down with Brad Allen to explore the state of prediction markets, CFTC licensing, the regulatory battle over sports betting, and the future of exchanges in both the U.S. and U.K.

Hear them discuss:
01:08 – Why “prediction markets” are just rebranded betting exchanges in the U.S.
02:29 – The CFTC application path and why Smarkets is going for a full DCM license
04:43 – Why politics alone makes prediction markets worth doing
06:35 – Jason’s vision to turn Smarkets into a general trading platform
07:55 – Why sports betting tech is still stuck in the 1980s
09:04 – Can SGPs and exotic bets work under a CFTC model
13:32 – Will FanDuel or DraftKings acquire or build a U.S. exchange
16:45 – What killed UK exchange growth and how Smarkets plans to fix it

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