Kalshi raised $1 billion at a $22 billion valuation last month, making it worth more than Flutter Entertainment (NYSE:FLUT) and DraftKings (NASDAQ:DKNG), the two companies whose business it’s trying to eat.
A new note from Bernstein analysts led by Gautam Chhugani projects prediction market volumes will reach roughly $240 billion in 2026, and reach $1 trillion by 2030.
The analysts describe prediction markets as evolving into “broader information markets” spanning economics, culture, corporate activity, and financial indicators, with sports serving as the entry point for mainstream adoption rather than the endgame.
Robinhood Is The Distribution Engine
Robinhood Markets (NASDAQ:HOOD) is the anchor partner powering Kalshi’s growth, listing over 1,000 prediction market contracts.
Prediction markets are now Robinhood’s fastest-growing product line by revenue, with …
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