Joe Saluzzi

Bombshell reporting alleging that the @SECGov enforcement director suddenly quit 6-mo into the job over the political appointees going too easy on Justin Sun & Musk reuters.com/business/finan…

@JimToes26 We'll be writing a comment letter on this request. The industry spent alot of time debating these changes and the Courts upheld the decision. Even this SEC has to respect that.

Please note that this exemptive relief is for ALL trading centers.

CFTC and MLB Sign Groundbreaking MOU cftc.gov/PressRoom/Pres… “The MOU is a collaborative step towards promoting the integrity and resilience of the prediction markets relating to professional baseball."

The Commission sure spends alot of time on an asset class that doesn't help fund its $2.1 billion budget.

*ARIZONA CHARGES KALSHI WITH OPERATING ILLEGAL GAMBLING BUSINESS

Broken markets, high-frequency trading, latency arbitrage, 24 hour trading, getting rid of quarterly earnings reports, prediction markets. PreMarket Prep spoke to @JoeSaluzzi Partner and Co-Founder of Themis Trading, Co-Author of 'Broken Markets', to make sense of it all earlier this morning. @Spus @TripleDTrader

Cboe claims that their 4am-7am pre-market equity session has "seen a 590% average daily volume (ADV) growth from February 2022 to February 2026". But the US equity pre-market still only represents about 5-10% of overall US equity volume.

@zerohedge That was quick, six months and done.

*SEC ENFORCEMENT DIRECTOR TO LEAVE AGENCY: REUTERS

@pattersonscott Good luck Scott. I'm sure you will find plenty of stories in that sleazy industry.

Personal news - After more than two decades at WSJ I'm leaving for my old stomping ground: Bloomberg. Beat: crypto. If you've got some crypto angles - hit me up!

An HFT's dream market

Through contortions, distortions and omissions, the CFTC continues to claim that event contracts on sporting events are not gambling. Our statement on today's CFTC advisory: bettermarkets.org/newsroom/the-c…

BOCA RATON, Florida — Wall Street has entered its prediction market era. But make no mistake: In traditional finance, people are still anxious about the proliferation of bets on politics, sports and everything else. Morning Money, from sunny Florida: politico.com/newsletters/mo…

@1914ad Beware of those offering to "democratize access to investing". It just means they are looking for bagholders.

Three of the largest private credit firms on earth have blocked investor withdrawals in the last 14 days and they're still trying to put these products in your 401(k).

NYSE to Pay $9 Million Penalty Tied to 2023 Trading Glitch morningstar.com/news/dow-jones…

"As they attempt to build market share, both Kalshi and Polymarket have aimed marketing at an eager group of users that isn’t known for financial discretion: college students."

The wildest frat party on campus? Prediction markets. Kalshi and Polymarket are pouring money into deals with social-media influencers and college students. wsj.com/business/media… via @WSJ

@_TimQuast @NYSE Tim, do you think Nasdaq will consult with the issuers before rolling out this new gambling product?

@JoeSaluzzi @NYSE Joe, Bloomberg reported this week that the Nasdaq has filed to offer binary options -- Prediction Markets -- on its flagship Nasdaq 100 and 100 micro indices. For issuers included in those, it shifts capital from flows to bets.

Sad to see the once great @NYSE stoop to this level.

@zerohedge It's a Meme Stock Market

Korea is now up 12% after being down 12% yesterday as the same people who were begging to get their money back from brokers, are now begging brokers to take their money

Did Polymarket finally go too far? It's just removed a betting market on nuclear detonation, amid intense debates over the ethics of war betting and the risks of insider trading on military strikes. From @ceostroff wsj.com/livecoverage/s…