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For the better part of two decades, both the king of late night and the self‑proclaimed King of All Media leaned heavily into Carrot Top as a recurring punching bag.

Because he relied on props, sported a wild look, and established a dominant Las Vegas presence, he fit perfectly into the “anti-showbiz” persona cultivated by both arbiters of Gen-X cool. Across the 1990s and early 2000s, “Carrot Top” became universal shorthand for lazy, cringeworthy comedy.

Nothing could have been further from the truth.

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For all the hoopla surrounding prediction markets and expectations that the industry will eat away at sportsbooks’ NFL handle this season, the old guard industry is expected to control nearly 80% of pro football wagers this year.

Eilers & Krejcik Gaming (EKG) estimates that bettors will plunk down $40.5 billion on the NFL this season through regulated channels. Traditional sportsbooks are projected to capture $31.7 billion of that total, compared to a handle analog of $8.4 billion for prediction markets—a 79% to 21% split in favor of legacy operators.

Handle analog is a metric used as a cleaner comparison between sportsbooks and prediction markets because the latter’s volume doesn’t compare evenly with sportsbook handle.

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With the central challenge of tax to compete with, operators face a test of whether they can maintain growth while remaining competitive in an increasingly fierce market.

Escobar expects the competitive landscape to evolve as the market settles, with operators facing a different set of priorities from those that defined Peru’s initial regulatory rollout.

“I don’t believe Peru has reached maturity yet, but I do believe it is entering its next stage of development,” she says. “Peru has one of the strongest long-term outlooks in South America.”