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Unchained

DEX in the City: How Prediction Markets Pose a National Security Risk

Unchained

Laura Shin

News, Tech News, Business News

4.61.3K Ratings

🗓️ 5 March 2026

⏱️ 53 minutes

🧾️ Download transcript

Summary

The crew discusses whether prediction markets enable “Bloomberg terminal espionage,,” wonder how to regulate markets that could be on anything, dive into why the OCC is saying no to stablecoin yield and more. Thank you to our sponsors!  ⁠⁠Fuse: The Energy Network Prediction markets are in the spotlight again. On one hand adoption appears to be growing as the Nasdaq has announced plans of entering the space. On the other hand, they scrutinize markets that pose a national security risk.  In this DEX in the City episode, hosts Jessi Brooks, Katherine Kirkpatrick Bos and TuongVy Le discuss suspected insider trading activity around a market tied to the strikes on Iran. Beyond ethical concerns about betting on war, they grapple with the definition of “a death market” and ask whether all prediction markets around an individual are death markets.  The big question: How can these markets on literally any possible event be policed? Plus, is Jane Street manipulating the Bitcoin market? Why the OCC is saying NO to stablecoin yield and the takeaway from Jack Dorsey's Block layoffs. Hosts: ⁠⁠⁠Jessi Brooks⁠⁠⁠, General Counsel at Ribbit Capital ⁠⁠Katherine Kirkpatrick Bos⁠⁠, General Counsel at StarkWare ⁠⁠TuongVy Le, General Counsel at Veda Links: Unchained: Nasdaq Eyes Prediction Markets With SEC Filing Bitcoin Rebounds as ETF Inflows Return, Jane Street Speculation Swirls ZachXBT Alleges Axiom Employee Misused Internal Data White House Talks Make Progress on Stablecoin Yields but No Deal Yet DEX in the City: Insider Trading and Crypto: What the Law Actually Says Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hi all and welcome to Dex in the city where the wallets are cold and the takes are hot.

0:05.0

First we have Jesse, Web3 prosecutor turned Web3 Protector at Ribbett Capital, along with V from the SEC to Web3.

0:13.3

And I'm your host, KK, Fluent and Tradify and Conversant in Deep Tech over at Starkware.

0:19.6

Before we get going, as always, remember, we're lawyers, but we're not your lawyers.

0:23.9

So nothing you hear on decks in the city is legal or financial advice and it doesn't

0:27.6

create an attorney-client relationship.

0:29.7

For the fine print, check out unchained crypto.com.

0:34.3

Before we continue in a particularly spicy episode covering everything from market manipulations,

0:40.3

prediction markets, to the new OCC guidance and everything in between, let's take a minute

0:47.3

to hear from our sponsors.

0:49.3

The energy network is an intelligent, decentralized grid that coordinates smart devices to balance supply and demand.

0:57.0

Energy Dollar is the native token of the network from one of Europe's fastest growing energy

1:02.0

startups. Follow at Fuse Energy on X to find out more.

1:07.0

Quick note before we get into today's episode. Bits and Bits Now has its dedicated feed.

1:11.2

We're spinning off from the Unchained Feed and moving to a new podcast and YouTube channel.

1:15.3

So if you want to keep up with our weekly live streams and macro meets crypto breakdowns,

1:19.1

make sure to subscribe to Bits and Bips directly.

1:21.5

We won't publish there until March, but subscribe today so you can be ready for launch.

1:25.4

Be sure to subscribe to the new feeds at Unchcripto.com slash bits and bits.

1:33.7

Welcome back.

1:35.1

So these days, it seems like you can't swing a dead cat without hitting a bunch of new

1:41.1

prediction markets.

...

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