Core idea is treasury co should be worth >NAV bc it has ability to arbitrage its own stock trading +/- NAV
He also describes later why it’s “heads I win, tails I breakeven” for private investors but a bad buy for public investors
So mostly these just monetize uninformed retail
Prediction markets remind me a lot of what crypto felt like a decade ago: a nascent asset class on a path to trillions.
There’s no better team than Kalshi to scale prediction markets and reshape how people think about everything from elections to economic markets to sports.