Now, David, what are you seeing on the claims front, if anything? What kind of policies are you seeing potentially implicated as these platforms and their stakeholders face regulatory scrutiny and litigation?

Sure.

Well, at Hub, we work with companies, publicly traded, privately held financial institutions, fintechs, exchanges, emerging technology companies across North America.

And one thing that we've learned repeatedly is that some of the largest claims arise when regulations evolve faster than governance.

And prediction markets really fit that description today.

What I find most interesting is that prediction markets are creating a very modern version of a very old problem, information asymmetry.

And the recent headlines involving government officials and military personnel and unusually well-timed trades all come back to one fundamental question, which is who had access to information that the broader market didn't have.

So to David, what are you seeing from carriers on the underwriting front? What type of concerns are coming up as you work to place coverage for clients in this space?