How to invest in prediction markets through the stock market
You cannot buy Kalshi or Polymarket shares on a stock exchange: both are private. You can buy listed companies that run, route to or own a stake in prediction markets. Seven are listed below, each with what its own filings or releases say it does.
The companies
| Company | Ticker | Its prediction-market business |
|---|---|---|
| Robinhood | HOOD (Nasdaq) | Routes event contracts to Kalshi, ForecastEx and Rothera |
| Intercontinental Exchange | ICE (NYSE) | Up to $2B investment in Polymarket; distributes its data |
| CME Group | CME (Nasdaq) | Runs FanDuel Predicts with FanDuel; financial event contracts |
| Interactive Brokers | IBKR (Nasdaq) | Owns ForecastEx; one screen for ForecastEx, Kalshi and CME |
| DraftKings | DKNG (Nasdaq) | Bought Railbird, a CFTC-designated exchange; DraftKings Predictions |
| Flutter (FanDuel) | FLUT (NYSE) | FanDuel Predicts |
| Coinbase | COIN (Nasdaq) | Prediction markets powered by Kalshi |
Kalshi and Polymarket themselves are not listed; whether you can buy into them at all is on Kalshi stock and Polymarket stock.
Robinhood
Robinhood (HOOD) routes its customers’ event contracts to Kalshi, ForecastEx and Rothera, its joint venture with Susquehanna.
While event contracts on Robinhood will still also be routed to Kalshi, ForecastEX, and Rothera, the deal with Crypto.com and OG.com comes just in time to help bolster our football prediction markets hub.
primarily driven by event contracts revenue of $156 million, up over 10x
Prediction Markets reached a new milestone with the launch of Rothera in June, a CFTC-licensed exchange and clearinghouse independently managed through Robinhood’s joint venture with Susquehanna International Group, with over 3.5 billion contracts traded to date.
Intercontinental Exchange
Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, agreed in October 2025 to invest up to $2 billion in Polymarket.
Under the terms of the agreement, ICE will invest up to $2 billion in Polymarket, reflecting a valuation of approximately $8 billion pre-investment.
The investment consideration will be in cash and is not expected to have a material impact on ICE’s 2025 financial results or expected capital return plans.
Alongside its investment, ICE will become a global distributor of Polymarket’s event-driven data, providing customers with sentiment indicators on topics of market relevance.
CME Group and Flutter
Today, FanDuel, the premier online gaming company in North America and part of Flutter Entertainment (NYSE: FLUT, LSE: FLTR), and CME Group (NASDAQ: CME), the world's leading derivatives marketplace, launched FanDuel Predicts in Alabama, Alaska, South Carolina, North Dakota and South Dakota, beginning a phased national rollout over the coming weeks.
In addition to financial markets, sports contracts will be available across baseball, basketball, football, and hockey in states where online sports betting is not yet legal, except on tribal lands.
Flutter has since moved the sports side elsewhere:
In coordination with CME, we have agreed that all FanDuel Predicts sports and novelties contracts will now be moved to Crypto.com, while continuing to provide our customers access to CME's financial markets.
For most of these companies prediction markets are a small line: Flutter called FanDuel Predicts’ Q2 2026 revenue not material.
FanDuel Predicts Q2 revenue was not material, H2 2026 gross revenues are expected to be offset by customer acquisition investment costs before increasing in 2027.
Interactive Brokers
Interactive Brokers (IBKR) owns ForecastEx outright, a CFTC-designated exchange and clearing house.
Interactive Brokers Group (Nasdaq: IBKR), an automated global electronic broker, is pleased to announce that its wholly-owned subsidiary, ForecastEx LLC, has received the necessary designations from the Commodity Futures Trading Commission (CFTC) to operate a contract market and derivative clearing organization.
Interactive Brokers (Nasdaq: IBKR), a leading global automated broker, today announced the launch of a first-of-its-kind unified interface for trading prediction markets across three leading US prediction market platforms, Kalshi, CME Group, and ForecastEx.
How ForecastEx contracts work is on what is ForecastEx.
DraftKings and Coinbase
DraftKings Inc. (Nasdaq: DKNG) (“DraftKings” or the “Company”) today announced the acquisition of Railbird Technologies Inc. and its wholly owned subsidiary, Railbird Exchange, LLC (together with Railbird Technologies Inc., “Railbird”), a federally licensed exchange designated by the Commodity Futures Trading Commission.
Monthly Unique Payers (“MUPs”) increased approximately 9% to 3.6 million in the three months ended June 30, 2026, compared to the three months ended June 30, 2025. This increase reflects strong unique payer retention and new customer acquisition across our Sportsbook offering and Predictions offering, which launched in December 2025.
Rolled out prediction markets in the U.S., with initial market flow powered by Kalshi.
Before you buy
A share in any of these is a bet on the whole company, not on prediction markets alone. This page lists what each company says about its prediction-market business; it is not investment advice.
