Everyone is talking about Kalshi and Polymarket, the “prediction market” platforms. But I recently came across a sobering statistic: More than 70% of users on these platforms are losing money.
A few weeks ago, Larry Fink released his annual letter to investors. As the CEO of asset-management firm BlackRock, Fink oversees more money than anyone on the planet — $14 trillion.
Picture this: SpaceX goes public this summer in the biggest IPO in history. It prices at a monster valuation of $1.5 trillion and opens for trading on the Nasdaq.
A decade ago, if you wanted to invest in world-changing private companies, you had one option: Wait. Specifically, you had to wait for a private company to go public in an IPO.
Tomorrow, something interesting (and potentially dangerous) is expected to hit the market: Robinhood’s new venture fund is slated to start trading. If history is any guide, the hype will be intense.