Chris Christie

"DraftKings would like to do that, FanDuel would like to do that, BetMGM would like to do that, but they're following the law. These guys [Polymarket/Kalshi] are breaking the law." Christie represents the political muscle of the incumbent gaming industry. His explicit warning that states will file lawsuits ("It's coming") signals a coordinated effort to shut down or handicap unregulated competitors. If successful, this preserves the regulatory moat and market share of the compliant public giants (DraftKings, Flutter, MGM). LONG the regulated incumbents as their lobby moves to crush regulatory arbitrage competitors. The CFTC successfully preempts state laws, allowing prediction markets to operate with lower overhead than traditional sportsbooks.

"DraftKings would like to do that, FanDuel would like to do that, BetMGM would like to do that, but they're following the law. These guys [Polymarket/Kalshi] are breaking the law." Christie represents the political muscle of the incumbent gaming industry. His explicit warning that states will file lawsuits ("It's coming") signals a coordinated effort to shut down or handicap unregulated competitors. If successful, this preserves the regulatory moat and market share of the compliant public giants (DraftKings, Flutter, MGM). LONG the regulated incumbents as their lobby moves to crush regulatory arbitrage competitors. The CFTC successfully preempts state laws, allowing prediction markets to operate with lower overhead than traditional sportsbooks.

"DraftKings would like to do that, FanDuel would like to do that, BetMGM would like to do that, but they're following the law. These guys [Polymarket/Kalshi] are breaking the law." Christie represents the political muscle of the incumbent gaming industry. His explicit warning that states will file lawsuits ("It's coming") signals a coordinated effort to shut down or handicap unregulated competitors. If successful, this preserves the regulatory moat and market share of the compliant public giants (DraftKings, Flutter, MGM). LONG the regulated incumbents as their lobby moves to crush regulatory arbitrage competitors. The CFTC successfully preempts state laws, allowing prediction markets to operate with lower overhead than traditional sportsbooks.