Novogratz on Crypto Legislation, Prediction Markets

• Novogratz believes a crypto market structure bill will pass in 2-6 weeks, despite strong lobbying from traditional banks.
• He criticizes big banks for not passing on interest to consumers, arguing this makes crypto's yield offerings more attractive.
• Prediction markets are seen as an innovative, growing sector, facing resistance from incumbent sports betting and casino industries.

Michael Novogratz discusses the ongoing crypto market structure bill, predicting its passage within weeks despite banking lobby resistance. He highlights the irony of politicians siding with big banks over consumers on stablecoin yield. Additionally, he addresses the emerging prediction markets, viewing them as an innovative sector facing similar battles against traditional gambling incumbents.