Squawk Pod
Betting on the Election & Elon Musk’s Tech Gamble 10/04/24
Oct 4, 2024
Tarek Mansour, founder and CEO of Kalshi, discusses the resurgence of election betting now that a federal hold has been lifted, exploring its implications for political outcomes. Walter Isaacson, renowned author and expert on Elon Musk, analyzes the fierce AI race between Musk's xAI and OpenAI, which just reached a staggering $6.6 billion in funding. Frank Holland reports on the impacts of labor negotiations and a port strike on the economy, highlighting essential negotiations in the U.S. maritime sector.
33:42
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Quick takeaways
- The recent court ruling enables regulated election betting markets, providing more accurate public sentiment insights than traditional polling methods.
- Elon Musk's competitive advancements in artificial intelligence aim to enhance safety and innovation through the integration of diverse technologies and datasets.
Deep dives
The Legalization of Betting on Elections
A significant shift in U.S. legislation now allows betting on election outcomes for the first time in a century. Kalshi, a prediction market startup, played a pivotal role in this change after successfully challenging the Commodity Futures Trading Commission (CFTC). The court ruling not only lifted previous bans but also marked the emergence of regulated election markets in the United States. These markets promise to provide a more accurate measure of public sentiment and candidate viability than traditional polling methods.
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