Global Research Unlocked

Research evidence excerpt

Global Research Unlocked

Accessible version

From sports to pop culture: Prediction

markets $1 trillion bet

13 July 2026Key takeaways

• BofA Global Research analysts join the podcast to discuss emerging risks, Equity

opportunities, and growth themes in global markets. United States

Gaming

• Prediction markets have exploded in popularity, rivaling traditional online sports

betting in the notional amount wagered. Research Marketing

Thomas (T.J.) Thornton

• While sports have dominated, there's reason to expect success in other categories. Head of Research Marketing

Still, much will come down to the courts. BofAS

+1 646 855 2449

thomas.thornton2@bofa.com

US Equity Research

Julie Hoover

Research Analyst

BofAS

Convergence of brokers, betting and prediction markets

Prediction markets (PMs) have exploded in popularity over the past year, with volumes

doubling since the start of May. By some measures, prediction markets are already

approaching the scale of online sports betting. Julie Hoover from the Gaming, Lodging &

Leisure team joins the podcast to discuss what's driving this growth and categories other

than sports which could be the next major opportunities for PMs, Julie also explores key

differences between prediction markets and traditional sports betting, including taxation,

and market-making dynamics.. She discusses online brokers, which share a significant

customer base with prediction markets and could be well positioned to succeed in this

growing market as the companies expand their PM offerings. Finally, we examine the risks,

which include more than 15 state lawsuits challenging prediction markets. It’s likely that

the U.S. Supreme Court will ultimately decide whether and which sports event contracts

can continue to be offered.