Sinbad

What is Sinbad?

Liquidity can consequently become self-reinforcing. Market makers gravitate towards platforms offering dependable technology and substantial order flow, while their participation improves pricing and execution for consumers.

Sahil Patel, founder of competitive intelligence provider Aldrin AI, said those relationships help explain Kalshi’s position.

“A lot of market makers want to go where there’s liquidity,” he said, adding that platform stability and Kalshi’s investment in the financial side of its market-maker relationships were also important. “I think Kalshi is a freight train that’s just kind of running away with it.”

How to play Sinbad

VGW gave $20,000 to state Sen. Andrew Jones (R-District 10) and $15,000 to Senate President Pro Tempore Garlan Gudger (R-District 4). State Sens. Donnie Chesteen (R-District 29) and Will Barfoot (R-District 25), along with Republican candidate John Roberts, who is running in the second district, each received $10,000 from VGW.

Longtime gaming and lottery advocate, Sen. Greg Albritton (R-District 22), also collected a $10,000 check from the sweepstakes firm.

Since April 1, VGW has made 36 political contributions across Alabama.

What is Sinbad?

“The largest black market operators have scaled to create recognisable brands with traffic that can compare to domestically licensed operators,” the report’s authors wrote. “The top group of sites by common owner has a 12% share of traffic, while the largest single brand has 10%.”

Beyond offering crypto payment solutions, a number of black market operators are licensed in “light touch” offshore jurisidictions which use opaque offshore operating structures to help to obscure company ownership and make local enforcement against these companies complex, the report noted.

By comparison, the long tail of smaller black market sites rely heavily on affiliates to generate traffic.