Democratizing Derivatives

Wall Street had office hours.

The world doesn’t.

For decades, derivatives were locked behind:

• institutions

• closing bells

• permissioned access

If something happened on a Saturday,
geopolitics, oil shock, breaking news…

You waited.

Not anymore.

The first quack crack: Perpetual Futures

Crypto didn’t just reinvent assets.
It reinvented time.

Perpetuals (perps):

• No expiry

• 24/7 markets

• Global access

For the first time ever, anyone—anywhere—could trade risk in real time.

What’s the difference? Perpetual Contract v Option Contract

A perpetual swap is like trading on a game that never ends.

An option is like buying a ticket that lets you play later if you want.

But perps only solved half the problem

Perps let you trade on price movements.

But what about outcomes?

• Will inflation come in hot?

• Will a candidate win?

• Will oil spike after a geopolitical event?

Enter Prediction Markets

Prediction markets flipped the model:

From:
👉 “Where is price going?”

To:
👉 “What is going to happen?”

Now here’s where it gets interesting…

We’re watching a convergence in real time:

Perps 🤝 Prediction Markets

Protocols like Hyperliquid (HIP-4) are introducing:

• outcome contracts

• capped risk

• fully collateralized positions

Translation:

👉 Trade outcomes
👉 Trade ranges
👉 Trade events

All on the same rails as perps.

Why this actually matters (and isn’t just “crypto stuff”)

Even the WSJ is starting to catch on.

When oil moves on a weekend:

• Traditional markets = closed

• Risk = very much open

Historically, traders were stuck.

Now?

They hedge instantly.
They reposition in real time.
They don’t wait for Monday.

Democratizing derivatives = democratizing risk management

Not gambling.

Control.

The new trader isn’t just a trader, they’re:

• trading CPI prints

• trading elections

• trading sports

• trading narratives

This is bigger than finance.

This is markets becoming the interface for information.

If something can happen…

It can be priced.
It can be traded.
It can be hedged.

In real time.

By anyone.

Don’t take my word for it, listen to Vlad from Robinhood! YES/NO. There’s a market to monetize your expertise.

Conclusion:

For 200+ years, critics have used the same lazy argument:

“If it looks like gambling, it must be gambling.”

They said it about equities.
They said it about options.
They said it about futures.

They were wrong then.

They’re wrong now.

Derivatives aren’t being gamified.
They’re being democratized.

Recent Travel

Riyadh, Flag Football was cancelled: As you can imagine, due to the war in the Middle East, and with safety being my #1 priority for my guests, sponsors, athletes and families, I made the early decision to cancel my event. Fanatics followed suit in the days that followed.

Upcoming Travel

April 3-7 Final Four in INDY: Let’s go Duke! Hoping to see my Blue Devils in the Men’s Tournament.

Beyond cheering from the stands, I’ll be in town for a packed schedule, attending Sports HQ’s Innovation Summit, the Pacers Sports & Entertainment brunch, and meeting with Athletic Directors, Conference Commissioners, and NCAA leaders.

We’re focused on helping athletes and universities better understand and access alternative assets, including the data and underwriting platform we’re building alongside a major family office.

April 9-11: Duke Sports Business Conference: I’ll be attending the Duke Sports Business Conference in Durham, NC, where I’ll be speaking on prediction markets and other alternative assets. Joining me onstage and in attendance will be, Courtney Stout, Chief Privacy and Data Governance Officer, NBA, Ronnie Chatterji, Chief Economist, OpenAI, Jimmy Graham, former NFL tight end and investor, Michael Strahan, and Jon Stewart.

Looking forward to a great event.