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Bernstein: Predicts rapid integration of prediction market technology stacks could trigger an M&A wave in the sports event contract sector.

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Mars Finance News, according to CoinDesk, Wall Street brokerage firm Bernstein pointed out in a latest report that the rapid integration of the prediction market tech stack is increasing the likelihood of a new wave of mergers and acquisitions in sports event contracts and financial markets. The report states that over the past eight months, major prediction platforms have been moving towards simultaneously controlling client distribution and exchange infrastructure. Kalshi and Polymarket, while possessing the core tech stack, lag in distribution capabilities and may become potential acquisition targets. Recent moves include DraftKings acquiring Railbird to launch DKeX, Robinhood partnering with Susquehanna to create Rothera, and Coinbase acquiring The Clearing Company. Bernstein believes that Robinhood and Coinbase are currently in a relatively favorable position in the competitive landscape, as both have large consumer user bases and fully owned regulated infrastructure, while Kalshi and Polymarket, lacking large-scale distribution capabilities, are seen as potential M&A targets.
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