“Prediction markets are splitting into three distinct product archetypes, not converging on a winner”
Maps the prediction market landscape as a stack war between crypto rails (Polymarket), regulated rails (Kalshi), and execution wrappers (Coinbase, Robinhood). Argues the sector is stratifying into product archetypes rather than converging on a winner-takes-all outcome, with TradFi incumbents pushing standardized binaries that fit existing market structure.
Some technical background helpful
Platforms mentioned: Polymarket, Kalshi, Coinbase, Robinhood, Nasdaq, Cboe