Citizens: Predicts market revenue could grow fivefold by 2030, exceeding $10 billion.

PANews reported on December 16th, citing Bloomberg, that analysts at Citizens Financial Group Inc. predict that revenue for prediction market companies could grow fivefold to over $10 billion by 2030. Citizens' Devin Ryan and his team of analysts estimate the industry currently generates approximately $2 billion in annual revenue. They believe that at Robinhood Markets Inc., which offers Kalshi contract trading, this business has become the fastest-growing product in the company's history, currently accounting for about 10% of total revenue. However, the analysts noted in the report that even more "exponential" growth is expected in the future as institutions such as hedge funds utilize these markets to bet on central bank policy moves and the likelihood of mergers and acquisitions. Ryan stated, "It's still in its early stages. People are focusing on sporting events because the activity is concentrated in this area. But I think that ignores the bigger picture. The bigger opportunity will be in building broader prediction markets around various events that impact the economy or companies." The industry still faces significant regulatory issues, but analysts believe that the cryptocurrency and options markets have provided precedents in addressing these issues.