The Herd with Colin Cowherd The Favorites - The Future of Sports Betting
Jul 11, 2025
Chris Gerlacher, a reporter with Prediction News, shares insights on the booming prediction markets in sports betting. He reveals how platforms like Kalshi and Polymarket are revolutionizing the landscape, now legal across all 50 states. Gerlacher discusses the impact of regulation and taxation on bettors and how technology, including AI traders, is transforming betting strategies. The conversation draws interesting parallels between prediction markets and traditional polling, emphasizing the evolving dynamics in gambling culture.
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Episode notes
Simon's Dad Joke from England
- Simon Hunter shared a dad joke from England about a kid turning nine and speaking German.
- He suggested listeners could use this joke once if they know a child turning nine.
Tax Changes Threaten Pro Bettors
- New tax laws limiting gamblers to deduct only 90% of losses could harm professional bettors in the U.S.
- This could lead bettors to be less transparent about taxes or move abroad to avoid unfavorable legislation.
Bettors May Return Offshore Books
- Many bettors may return to offshore or local books to avoid new tax burdens.
- Legal and transparent betting in the U.S. faces challenges from complex state regulations and taxation.
