Bernstein: Kalshi and Polymarket Could Become M&A Targets

Odaily reports that Bernstein stated that vertically integrated prediction market platforms are driving an increase in M&A activity among sports betting companies, exchanges, and consumer finance firms.



The institution noted that companies possessing both consumer distribution channels and exchange infrastructure are capturing more economic benefits internally and increasing strategic pressure on competitors. Kalshi and Polymarket could become acquisition targets, while mergers among major sports betting companies are also becoming more strategically viable.