This Week in The Degenerate Economy: The Prediction Markets War Heats up and Get Ready for 'Copy Betting'.

Good morning…

I hope everyone had a great thanksgiving.

In this week’s episode, I cover the following topics:

Robinhood is building out their own prediction market stack and Kalshi might be the odd man out. The prediction market wars are heating up. One thing I am sure of is that ‘copy betting’ will be a massive growth engine for companies including Stocktwits. The rest of the subjects are in the details below the video. I hope you enjoy…

You can follow along with how I have been investing along this theme the last few years with the index I created here.

• Intro: “This Week in the Degenerate Economy” (0:00)

• Degenerate Index update, $GOOGL ( ▲ 0.07% ) + $COIN ( ▲ 2.96% ) , core positions (0:16)

• $HOOD ( ▲ 0.23% ) , Kalshi and the prediction market backend (1:18)

• $HOOD ( ▲ 0.23% ) builds its own soup-to-nuts prediction stack (2:00)

• From copy trading to “copy betting” + Robinhood social (3:01)

• A16Z’s big Kalshi bet & prediction markets as a “meta theme” (3:39)

• Albert Wenger, cheap capital & the attention economy (4:49)

• Leveraged ETFs: SEC as “biggest drug deliverer” (5:56)

• AI boom doubts, WSJ GDP claim, “AI is a bust” (7:13)

• White House = “largest degenerate,” AI bubble, leverage & recession risk (8:16)