Bernstein estimates prediction markets will reach $10 trillion in annual trading volume by 2035, from an estimated $410 billion this year. It expects about 70 percent compound annual growth through 2035, with the market shifting from sports toward contracts tied to financial assets such as cryptocurrencies, stocks and commodities. Activity has already surged, and crypto and commodities trading have risen sharply on Kalshi. U.S. regulatory uncertainty remains a key variable.

Cryptocurrency-related contracts are emerging as a core pillar of Robinhood’s prediction market business, overtaking sports, foreign media reported, citing CEO Vlad Tenev. He said crypto categories already account for a disproportionately large share and sports could become a minority within a few years. Robinhood reported 2026 second-quarter event-contract revenue of $156 million, more than 10 times a year earlier, and traded 13.6 billion contracts in the quarter.