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Good morning, Drew Daily Show. I'm Neil Fryman. And I'm Toby Howell. Today, protein is in a shortage.

I repeat, protein is in a shortage. Then Anthropic has filed to go public.

I repeat, Anthropic has filed to go public. It's Tuesday, June 2nd. Let's ride.

In the cutthroat, low-margin world to bars, one New York City pub is getting creative to stand out.

Ahead of game one of the NBA finals tomorrow night between the Knicks and the Spurs,

the Jeffrey on the Upper East side of Manhattan announced a promotion with a prediction market twist.

If the Knicks win, then everyone who buys food or drink there during the game will get their

tab picked up by the house up to $100 a piece. And the Jeffrey is okay with that because they are hedged or de-risk.

The owner Andy said he put $5,000 on the kalshi bet for the Knicks to win game one.

So whatever happens in the game, the Jeffrey doesn't lose too much or might even come out

on top. Toby, is this the first instance of a bar turning into a hedge fund? Here's the math, which is not my strong suit. I was an English major, but I'll do my best. So they bet $5,000 on the Knicks at 37% odds. If the Knicks wins, the payout is roughly $13,500 total. So they profit.5,000 on the bet itself. They'll use part of that

to cover the $100 free bar tab promo. If the next lose, they lose the $5,000 bet, but they don't have to

pay the free tabs all night. Plus, the place will probably be slam, so they'll be having an above average night anyway.

So worst case, they eat the $5,000 as a marketing expense.

Best case, they have a massive night in the hedge covers the promo.

So sort of a win-win, and definitely not the last time we'll see someone use a prediction market

or, as many pointed out, just a normal sportsbook

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