Prediction markets are having a moment of reckoning. Sharp bettors are starting to call out PM platforms for the same behavior that made traditional sportsbooks notorious: squeezing out the very winners who helped legitimize the space in the first place. From new maker fees quietly eating into sharp profits to a "pro gambler arc" meme capturing the entire cycle of boom, backlash, and burnout, this week's Circle Back digs into whether prediction markets are already repeating the mistakes of the sportsbooks they were supposed to replace.
Host Jacob Gramegna is joined live by Joey Knish, Thon Misser, and Peanut to break down the fee structures, the hypocrisy accusations flying between market makers and sharp takers, and what it all means for anyone trying to get a long-term edge in this new market. Presented by ProphetX.
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SHOW INDEX
0:00 - Circle Back w/ Jacob Gramegna, Peanut, & Joey Knish
1:31 - Was Kalish Right All Along?
9:56 - Market Makers vs. Sharp Takers
17:38 - The Pro Gambler Arc
23:41 - +EV Move Of The Week
31:19 - NFL Adopting The March Madness Schedule
36:50 - The Wrong One To Receive An Affiliate Badge
44:16 - Announcement
46:57 - Chopping Block
Disclaimer: The content presented in this show is intended for entertainment purposes only. All opinions expressed are those of the hosts and do not necessarily reflect the views or opinions of any individuals or organizations mentioned. Statements made about public figures or entities are based on publicly available information and are not intended to harm or defame any person or business. This show relies on the fair use of social media posts, which are presented in good faith for the purpose of commentary and criticism. Viewers are advised to form their own opinions.
Circles Off podcast is an entertainment podcast. The opinions expressed in the podcast are for the purpose of discussion in the area of sports betting, online gaming and other like markets. Circles Off podcast does not condone unlawful or illegal activity, and if you are unsure of the laws in your jurisdiction surrounding these markets, please seek the appropriate legal advice about strategies that you intend to implement. Please gamble responsibly.
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