From Bets to Bonds: How Prediction Markets Are Becoming Wall Street’s New Frontier

Prediction markets are rapidly transforming from crypto curiosities into serious financial infrastructure — yet regulators still can’t decide whether they’re innovation or gambling. Massachusetts’ 2025 lawsuit against Kalshi over NFL contracts, despite prior CFTC approval, underscored the widening gap between state and federal oversight. Meanwhile, Intercontinental Exchange’s (ICE) multi-billion-dollar investment in Polymarket pushed event-driven trading into mainstream finance. Once dismissed as “legalized gambling,” prediction markets now attract institutional capital as regulators race to define where speculation ends and financial innovation begins source: https://beincrypto.com/prediction-markets-future-of-finance-or-gambling/