Polymarket CEO Shayne Coplan: Polls vs. Prediction Markets 11/07/24

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 7 November 2024

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In the week leading up to election day, presidential election contracts on Polymarket, Kalshi, and PredictIt all indicated Donald Trump had a wider lead ahead of Kamala Harris than traditional polls. In his first-ever TV interview, Polymarket CEO Shayne Coplan discusses his company’s role in elections and the rising popularity of prediction markets, which allow bettors to wager on election outcomes. The Wall Street Journal’s Tim Higgins highlights Elon Musk’s influence among young men, saying Musk gave them “purpose” in voting for Trump. Plus, the House race remains uncalled, smart ring maker Oura is out with a new report on election day stress levels, and Wall Street awaits the Federal Reserve’s next rate cut decision. Shayne Coplan - 14:51 Tim Higgins - 32:15 In this episode: Shayne Coplan, @shayne_coplan Tim Higgins, @timkhiggins Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music, please.
0:04.3	This is SquawkPod, and I'm CNBC producer Cameron Costa.
0:08.3	On today's episode,
0:10.6	How Betterers on Prediction Markets got election results right
0:14.5	with Polymarket founder Shane Coplin.
0:17.1	A diverse, a disparate group of market participants
0:19.5	like you see on Polymarket is more accurate than any given expert.
0:22.7	He's only 26, and he's at the forefront of the betting market wave.
0:27.8	It's a good day to have someone from Polymarket on, Sorkin.
0:31.4	You're a stud for getting this guy.
0:32.9	This is his first interview on TV.
0:34.4	Is it really?
0:35.4	First interview on TV has ever done.
0:37.1	And who turned out the vote?
0:39.3	Wall Street Journal columnist Tim Higgins says Elon Musk played a big role.
0:44.3	The idea that Elon was giving young men purpose by going out and voting, that's pretty powerful.
0:50.3	Plus, the Fed speaks, the balance of power in Congress is still undecided, and we're tracking
0:56.7	our anxiety this November.
0:58.6	The aura ring is watching.
1:00.5	This is your Zen place?
1:01.5	This is my Zen.
1:02.5	Oh my gosh, what's the rest of your life look like?
	...

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