Election Betting and Iowa Scam

Election Betting and Iowa Scam. www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst and trader Chris Markowski.

Speaker 2 (00:16):
Election betting, and the Iowa scam. So over the course
of the weekend, we had a first and foremost, we
had a major shift very quickly in the prediction market
and who was going to win the election all of
us sudden, all of a sudden, Harris jumped big time,

(00:36):
and people, oh my god.

Speaker 1 (00:38):
Look at this.

Speaker 2 (00:39):
It's coming out of you. And you had all sorts
on social media. The left is all excited about this.
You need to understand something. This election market's this prediction market.
It's not a very liquid market. And I'll tell you
exactly what happened. You had Democratic operatives heavy on Harris.

(01:02):
It basically it was akin to running an advertisement if
you actually think about it. It garnered all sorts of
national coverage, It got all sorts of social media coverage,
kind of like buying an advertisement. They created a story
which created news, which got a ton of coverage. Also

(01:24):
had that story out of Iowa where you had that
outlier poll and it was interesting. Mark Halprin interviewed the
lady behind the poll and she couldn't even give an
explanation for why things were happening that the way they were,
But she didn't even know what the R and the

(01:46):
D was on her poll. Again, I'm kind of pulling
my hair out on this, I said, you, Kidney, it was.
It was almost surreal to watch. Got to go back
I did my college thesis. Was actually covered an entire election.
Is obviously well before the Internet and every major newspaper

(02:07):
in the country, and at that point time, it was
just about coverage, how much coverage either candidate received. And
you know, what did it matter? How did it matter?
How I didn't really pay that much of attention or
how or what the coverage was. It was just that
you were actually getting coverage. It matters, It matters, it does.

(02:31):
And you know, as far as the strategy was concerned,
you know, Kamala Harris and her operatives played this one
pretty well over the course of the week, and I
checked the predictive markets. They swayed and swung back in
the opposite direction. But again, as an effect, we'll see
if it works or it doesn't work. But these types

(02:51):
they call them election interference, whatever it may be. It
also brought up this past weekend on how Kamala went
on Saturday Night Live and that in essence is illegal
according to the FCC, because you got to give equal
time to Trump. They're not going to care, it doesn't matter,
and that it'll all be after the fact anyway. So
you know what difference is it? What you think they're

(03:13):
gonna pull NBC's broadcast license. No, it's the uh tricks
of the trade. At the end of an election watchdog
on Wall Street dot Com,