You Can't Please Everyone
From Martin Kabrhel’s antics to broadcast complaints, there is a widening divide between pro and recreational players/viewers, with the WSOP stuck in the middle.
The Bulletin Board
THE LEDE: It’s recs vs. pros at the WSOP, on and off the felt.
ROUNDUP: A look at the stories you may have missed.
NEWS: CME’s Duffy Will Step Down in March, Plans to Sue CFTC.
VIEWS: Final chance to register for AIBM’s Gamblification webinar.
AROUND the WATERCOOLER: Gamifying prediction markets.
STRAY THOUGHTS: Let’s put that in perspective.
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The Lede: Dispatches From the World Series of Poker
I’ve been writing (and talking) about responsible gaming for everyone (not for the few), and I would apply that same mindset to poker, an industry that has become increasingly divided on the direction it should be taking, with pros and poker enthusiasts wanting the focus to be on the strategy, while hobbyists and old-school players seem increasingly frustrated with never-ending streams, Day 2 registration, and stoic players with covered faces.
This split can be seen in reactions to Jared Bleznick’s frustration that the WSOP broadcast cut away from the $250,000 high-roller to show some of the Senior’s event.
And then there is Martin Kabrhel, who is the end result of two decades of people trying to get on a poker live stream by engaging in increasingly annoying behavior and antics. According to Daniel Negreanu (as reported by Poker.org), there are five or six players who chose not to participate in the $250,000 High Roller event because of annoying players.
Speaking with fellow poker pro Jason Koon during his vlog, Negreanu said:
“There’s a gentleman in this tournament that has actively, because he’s in this tournament, caused about five or six people we would have liked to have in this tournament… is that a fair guess… Problematic, disruptive, over the line… I would have banned him five years ago.”
“We all love table talk,” Koon says. “I love banter, I like people getting excited. I even like a little shit-talking, but once it crosses the line to abuse and harassment, come on man, you’re just ruining everyone’s experience.”
That said, I don’t think vlogging during a hand is what recreational players and viewers want either:
Lance Bradley (podcast guest on Episode #82) talked about the need to appeal to everyone in his Substack:
“There are two distinct audiences that WSOP needs to serve: Players and Enthusiasts. A Venn diagram would certainly show some overlap between the two and WSOP organizers would obviously love to increase that overlap over time as enthusiasts find their way to becoming players.”
Bradley offered up five suggestions to walk the fine line between what enthusiasts and recreational viewers want.
My own belief is that finding that balance is near impossible with the budgets poker is working from. As such, poker (coverage) needs to decide who it is for.
Roundup: So Much News; So Little Newsletter Space
Florida Supreme Court won’t expedite sports betting case [Sports Betting Dime]: “The Florida Supreme Court today denied a motion from West Flagler Associates to expedite the exercise of its all writs jurisdiction and immediately suspend Florida online sports betting pending a final ruling on its petition for writ of quo warranto.” The lawsuit, filed by West Flagler Associates, seeks to remove the sports betting language from the 2021 tribal compact between the state and the Seminole Tribe — West Flagler lost in federal court and SCOTUS chose not to hear the case.
Wisconsin Gov. initiates sports betting compact discussions [Sports Betting Dime]: Wisconsin Gov. Tony Evers reportedly met with tribal leaders to begin compact negotiations with Wisconsin tribes. But as Robert Linnehan reported, time is of the essence, as “any gaming compact amendments must first be approved by the Wisconsin governor prior to being sent to the federal government for final approval. While Evers has shown a willingness to allow tribes to lead online sports betting in the state, he has already informed constituents that he will not seek reelection and will end his gubernatorial term on Jan. 4, 2027.”
Timothee Chalamet catches flak for Kalshi ads [InGame]: “Fresh from the glow of his beloved New York Knicks taking home the NBA championship for the first time since 1973, is now the star in a series of avant-garde ads for Kalshi… None of the ads come anywhere close to mentioning anything such as “betting” or “trading,” but the backlash from fans and followers was swift and furious. On Chalamet’s Instagram, where he posted the ads, many people were aghast at his decision to be a Kalshi pitchman… The comments on YouTube were not any better.” STTP Thoughts: This is just more evidence of what I have been saying for years; if you want to know what the public perception of your product is, go to the comments.
News: CME’s Duffy Steps Down as CEO; Plans to Sue CFTC
It was a busy day for the Chicago Mercantile Exchange (CME), as they announced a transition at the top, with longtime CEO Terry Duffy planning to step aside in March 2027 and sliding into a new role as Executive Chairman. Duffy, who has headed CME since 2002, will be replaced by current CME president and chief financial officer Lynne Fitzpatrick.
As if that news wasn’t big enough, Duffy appeared on CNBC’s Fast Money, and said he plans on suing the CFTC over the recent approval of perpetual futures “perps,” which Duffy said circumvents the Dodd-Frank Act as they fall under swaps.
Here are the reactions from former CFTC General Counsel Rob Schwartz, and Better Markets’ Amanda Fischer, a former SEC Chief of Staff.
According to Duffy, “there is a lot of misrepresentation of certain facts,” by the CFTC. “There are a handful of things [CFTC chairman Michael Selig] has said that are just not true, as it relates to how the Commodity Exchange Act defines a futures contract.” — the full segment is linked below.
“Perps,” are a type of derivative that allows traders to speculate on the price of an underlying asset (most commonly cryptocurrencies like Bitcoin or Ethereum) without any expiration or settlement date, so they can theoretically be held indefinitely, unlike a traditional futures contract.
On May 29, 2026, the CFTC issued its first formal approval of a perpetual futures contract — referencing the spot price of Bitcoin — to Kalshi on May 29, 2026. At the same time, the CFTC released a policy statement outlining a new policy that “perps” will be reviewed on a case-by-case basis.
Upcoming Webinar on The Gamblification of Everything
Gambling is everywhere and everything is gambling. Over the last few years, gambling has become a rapidly normalized part of American life, and sports betting is just the tip of the iceberg. From online casino games to wagering on drone strikes via prediction markets to slot-machine mechanics built into video games, Americans can find gambling and gambling-like games everywhere.
What is the spread of gambling doing to individuals and to society at large?
How much further could gambling go?
Join the American Institute for Boys and Men for a webinar to reckon with the new place of gambling in American life.
German Lopez (New York Times) will moderate a conversation featuring Kyla Scanlon (economic commentator), Matt King (Fanatics Betting and Gaming), and Jonathan Cohen (AIBM).
Register at https://aibm.org/events/the-gamblification-of-everything/
Around the Watercooler
Social media conversations, rumors, and gossip.
And speaking of the gamblification of everything…
Let’s be real, we all saw this coming, and we all know that this is the tip of the iceberg if the status quo remains.
InGame has a good write-up on the “slot” Ursa, the COO of Betr, created, noting, “What it appears to be… is nine random contracts are purchased, held for five seconds, and then sold. Add up the wins and losses, and that’s the payout.”
Stray Thoughts
Regular readers know I like to put things in perspective, and while watching UFC Freedom 250, it struck me how America isn’t really that old. The 250 years seems long, but then I remembered that President Trump is 80, meaning his life has already spanned nearly a third (32%) of the entire history of the United States.
Think about that for a minute: There are people who’ve experienced a third of everything you read in a comprehensive US history book.