Wall Street's Onchain Push and the Rise of Prediction Markets Highlight Evolving Crypto Landscape
Wall Street's Onchain Push and the Rise of Prediction Markets Highlight Evolving Crypto Landscape
Bitwise CIO Matt Hougan suggests that crypto markets might be underestimating the significant and accelerating shift of Wall Street towards tokenization. This ongoing institutional integration runs in parallel with the growing prominence of innovative digital asset applications, such as prediction markets. These platforms allow users to trade on the outcomes of real-world events, with examples like Polymarket and Kalshi gaining traction and significant trading volume in 2024.
Bitwise CIO Matt Hougan said crypto markets may be underestimating Wall Street's accelerating shift toward tokenization.
Prediction markets are platforms that allow users to trade on the outcomes of real-world events. Participants buy and sell shares representing the potential outcomes of the event, with the implied probability of these outcomes shifting along with the price action of the shares. Prediction platforms Polymarket and Kalshi rose to prominence in 2024 when billions […]