Wall Street groups hire traders to wade into prediction markets
Big financial companies expand beyond traditional securities to arbitrage event contracts in sport and politics
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Insider bets, low liquidity and regulatory gaps complicate efforts to turn wagers into financial tools
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As new bettors flock to platforms such as Kalshi and Polymarket, some make easy prey for trading firms and professional gamblers
Wall Street’s anything-but-tech trade shakes up US stock market
Energy groups, small caps and materials companies have displaced AI-linked shares as best performers
Betting on risk changes the world
Prediction markets are the latest example of a disruptive new industry smacking into problems incumbents have long understood
Stock trading surge helps Wall Street navigate dealmaking trough
Volatility is keeping market-making desks active at a time when mergers and issuance have slowed
The risky bet by AI start-ups
Broader, integrated software platforms for business will win out against those selling specific services