Over the past eight months, major players in consumer finance and online betting have begun building their own exchange infrastructure for event contracts. According to Bernstein analysts, this creates conditions for a wave of M&A in the prediction market, writes CoinDesk.

Analysts led by Ian Moore named Kalshi and Polymarket as possible acquisition targets. According to their assessment, both platforms have their own technological base, but are inferior to large brokers and betting companies in terms of access to a mass audience.