Morgan Stanley will take part in the NEXTPredict prediction markets summit in New York on Oct. 22-23 as a strategic partner, marking a notable appearance by a major bank at an event focused on the sector. Stephen Grambling, the bank’s head of U.S. gaming, lodging and leisure research, is set to moderate a panel discussion on institutional capital during the conference.
Pierre Lindh, co-founder of NEXTPredict, said Morgan Stanley is the first bank to publicly participate in an event in this field. Lindh also said roughly 90% of liquidity and trading volume in prediction markets currently comes from sports contracts. In his view, the sector’s current high valuations rest on expectations that institutional money will enter at scale in the future and that prediction markets will shift from being seen as an "alternative betting" product toward an institutional tool.
Morgan Stanley has already had exposure to the space. The bank previously participated in Kalshi’s $1 billion financing completed in May, and it published a report on prediction markets in April this year.
Morgan Stanley will attend the NEXTPredict prediction markets summit in New York on Oct. 22-23 as a strategic partner, according to BlockBeats.
Morgan Stanley executive to lead institutional capital discussion
Stephen Grambling, Morgan Stanley’s head of U.S. gaming, lodging and leisure research, will moderate a panel focused on institutional capital at the event.
NEXTPredict co-founder points to first public bank participation
Pierre Lindh, co-founder of NEXTPredict, said Morgan Stanley is the first bank to publicly take part in an event in this area.
Lindh said about 90% of liquidity and trading volume in prediction markets currently comes from sports contracts. He added that the sector’s high valuations are being built on expectations of large-scale future institutional inflows and a shift in prediction markets from an "alternative betting" category toward an institutional tool.
Morgan Stanley had prior exposure to the sector
Morgan Stanley previously participated in Kalshi’s $1 billion financing completed in May. The bank also published a report on prediction markets in April this year.
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