“prediction markets are becoming the next derivatives layer for finance”
Galaxy research report on prediction markets evolving from niche speculation to mainstream financial infrastructure. Covers Polymarket ($9B valuation, 1.6M users) and Kalshi (top finance iOS app), emerging leverage mechanisms (Space, Gondor), AI as interface layer for fragmented venues, and convergence toward derivatives—event contracts as hedges, collateral, and composable financial primitives.
Some technical background helpful
Platforms mentioned: Polymarket, Kalshi