Kraken Plans Major Move into Prediction Markets by 2026
URGENT UPDATE: Kraken is set to make a significant push into the prediction markets sector by 2026, according to remarks from the company’s global head of consumer, Mark Greenberg, during a recent interview with CNBC. This move comes on the heels of a breakout year for prediction markets in 2025, which saw major players like DraftKings, FanDuel, and Fanatics launch dedicated platforms.
Despite facing ongoing legal challenges, Greenberg expressed optimism about the future of prediction markets. “Prediction markets are a way to take information and alpha and your opinions on what’s going to change in the world and be able to prove that end,” he stated, highlighting the potential for growth in this emerging sector.
In a strategic maneuver, Kraken recently acquired Small Exchange from IG Group for $100 million, securing a license to offer event contracts within the United States. This acquisition positions Kraken to establish a foothold in the prediction market landscape without immediately committing to a full rollout.
Greenberg emphasized the positive trajectory of prediction markets, suggesting that they will endure beyond current regulatory hurdles. However, he remained tight-lipped about specific strategies, including potential collaborations with established competitors like Coinbase or Kalshi. The market is still in its infancy, and ongoing discussions within Kraken indicate that details are still being finalized.
The outlook for prediction markets is not without challenges. A recent court brief filed by Nevada Attorney General Aaron Ford, representing 38 states and the District of Columbia, supports gaming regulators’ efforts to restrict the offering of sports event contracts. These contracts have been a significant revenue driver for platforms entering this space.
As Kraken and other companies prepare for what they hope will be a sustained development in prediction markets, the landscape remains fraught with uncertainty. Legal obstacles and regulatory scrutiny will play a crucial role in shaping the future of this sector.
Developments are ongoing, and stakeholders in the gaming and prediction markets will be closely monitoring Kraken’s next steps as they approach 2026. This could represent a pivotal moment not just for Kraken but for the entire industry as it seeks to capitalize on the growing appetite for innovative betting options.
Stay tuned for more updates on this rapidly evolving story.
