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Saagar Enjeti reveals that prediction markets like Kalshi use mainstream sportsbooks like FanDuel to market-make complex parlay bets. These high-margin parlays account for sixty percent of sportsbook revenues, quietly extracting wealth from retail bettors.
Stefan Livera views a US Strategic Bitcoin Reserve as a low-probability event, pointing to a 20% market probability on Kalshi. Any reserve under a Trump administration would likely consist only of seized coins rather than active market accumulation.
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