Unchained DEX in the City: Are Prediction Markets Gambling, and Who Should Regulate Them? - Ep. 952
Nov 19, 2025
Hosts dive into the controversy surrounding Uniswap's new model and a heated exchange with SEC's Amanda Fischer. They explore the resurgence of ICOs, now called public token sales, and discuss the potential for regulatory conflicts over prediction markets. Legal ambiguities and SEC jurisdiction loom large for these markets, stirring debates on their classification as gambling. The conversation wraps up with insights on mainstream crypto adoption amidst market volatility and holiday sentiment.
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Policy-First SEC Staffing Backfired
- Gary Gensler prioritized a policy agenda over traditional securities-law expertise at the SEC.
- Vy Le warns that staffing top SEC roles with non-lawyers risked politicizing enforcement and harming agency credibility.
ICOs Failed From Disclosure Gaps
- ICOs weren't inherently flawed; the problem was lack of tailored disclosure and oversight.
- Vy Le suggests modern public token sales can work if platforms provide clear, material disclosures.
Craft Clear, Material Disclosures
- Make disclosures simple, material, and targeted so ordinary investors can understand them.
- Jessi Brooks urges teams to craft concise, relevant disclosures rather than dense legalese.