Just saw a litigation exec from a major exchange going off about how states are basically gaslighting everyone on prediction markets. Ryan Vangrack's basically saying the regulatory pushback doesn't match reality. Wild how much this keeps coming up - every few weeks there's another state trying to clamp down while the tech keeps moving forward. Ryan Vangrack's take is pretty direct though, not the usual corporate speak. Makes you wonder if states actually understand what they're regulating or if it's just political theater at this point. The prediction markets thing is getting messy fast.