Robinhood owns the rails in prediction markets, a fast-growing business about to out-earn its crypto trading. Event-contract revenue went from $3M in Q1 2025 to $104M a year later, and Bernstein expects it to pass crypto revenue this quarter, reaching $586M in 2026 and $1.7B by 2028. Owning 90% of MIAXdx and launching the CFTC-licensed Rothera with Susquehanna lets it charge 0.6 cents per contract versus two cents elsewhere while keeping all the economics across 27 million funded customers. … Show more

Hyperliquid's HYPE and Pump.fun's PUMP may be the way to own the house in an increasingly casino-like economy. Speculative money keeps flowing into memecoins, perps, casinos and prediction markets, where most people slowly bleed to the house. You cannot own Stake or a casino, but degen activity on both platforms accrues value directly to the tokens through buybacks. The biggest asymmetric bet might be owning that machine rather than chasing the jackpot; much higher for both. x.com 

Limitless's token may be an opportunity after dumping on its airdrop, because revenue recently exploded to $42 million annualized against a roughly $10 million market cap. It is the second most profitable prediction market app behind Polymarket, buybacks flow to stakers or incentives, and tokenomics are unusually transparent. Some revenue likely comes from an incentive campaign. Risks are lost trust in the founder after the token launch drama and investor unlocks, which may be priced. x.com  … Show more