Name: Polymarket CEO Calls Regulated Sportsbooks a 'Scam'
Uploaded: 2025-11-21T15:45:35-05:00
Duration: 2 min 10 s
Description: Polymarket CEO slams books as scams, promoting prediction markets as fairer. For more legal analysis across the gaming industry, check out Legal Sports Report.

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Polymarket CEO slams books as scams, promoting prediction markets as fairer. For more legal analysis across the gaming industry, check out Legal Sports Report.

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Polymarket CEO Calls Regulated Sportsbooks a 'Scam'

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Finally, let's uh wrap up with another prediction market company, Polymarket their CEO making some comments this week that is not gonna sit very well with some of the sports books, but at least for the time being, anything that you say, uh, Sam, right now if it's getting attention on shows like that it's probably worth mentioning. Yeah, you're definitely right, Craig. Uh, it's always gonna make headlines when a CEO of one of these big companies, by the way, which is now valued at about $15 billion after an investment from the New York Stock Exchange, uh, he came out this week and called sports books scams, saying that they are not customer friendly, uh, attacking them for limiting bets, which obviously we know happens a lot on sports books, but only for a small percentage of people who are actually really good at sports betting and can make money, uh, most of their customers, I, I think about 98%. percent are losing. So, uh, it doesn't apply to the retail consumers that these sports books typically go after as an entertainment option. But he touted prediction markets as a more transparent, uh, way to do sports betting where, you know, uh, you're not playing against the house, you're playing against other players and, um, they have less of a built-in edge. It comes at a funny time because the parlays that Calci just launched are now under new scrutiny after a Sportico report revealed that those are actually very. Tilted against uh the players themselves because of their own mechanism where it's harder for users to access different options that market makers, uh, who work for the app can actually make. So that's under a new spotlight as well. And it also comes at a time when FanDuel and DraftKings, the very companies he's calling scams, are about to launch their own prediction markets within the next month. So we'll really see if in fact the product that Polymarket is offering is superior to these other companies, which he's called scam. and are now just gonna launch their own prediction markets, uh, I would imagine they will be very happy and very hopeful to kind of combat, um, you know, what Shane Copeland is saying with their own better superior product. I know FanDuel has made it a point that they want to have the leading prediction market, uh, offering by next April, which will come in, you know, very, very short amount of time. They haven't even launched yet. So, um, yeah, he's making headlines with these statements for sure, but whether they hold water is kind of another question entirely.