DATA & FIGURES
The growth of prediction markets has been explosive, with 50% discounts being offered for life on certain subscriptions. The market for these products is expanding rapidly, with Cboe and Charles Schwab leading the charge.
THE SCENARIO
The US financial industry is becoming increasingly dominated by speculative products, with the rise of prediction markets, sports betting, and leveraged trading. This trend is being driven by the growing demand for these products, with the financial industry responding by supplying more.
DIRECT QUOTE
"Every event is now a market. Every opinion is now a wager. Every moment of boredom can be monetized by putting money at risk on your phone." — Tyler Durden, Contributor, ZeroHedge
BBN INSIGHT
The growth of speculative products in the US financial industry is a cause for concern, as it can lead to increased fragility and risk in the system. The normalization of endless money printing and financial engineering, rather than productive growth, is also a worrying trend.