Morgan Stanley joins NEXTPredict summit as strategic partner, to moderate panel on institutional capital

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.