Key Takeaways Executive Summary Market Contrast: U.S. sports betting has matured into a ~$56 billion revenue market (legal sportsbooks, 2025) dominated by FanDuel (~43%) and DraftKings (~36%). In contrast, publicly disclosed prediction markets (Kalshi, Polymarket, etc.) trade billions of dollars notional volume weekly, but remain small relative to sportsbook handle. The CFTC recently pivoted from … Continue reading Three Structural Scenarios for the Future of U.S. Prediction Markets and Sportsbooks — And the Outcomes That Could Define the Next Five Years