Prediction markets like Polymarket and Kalshi—platforms that let traders speculate on the outcomes of future events—are having a moment. From election results and major sporting events to Oscar winners and even whether Taylor Swift will get pregnant in 2025, nearly anything with an uncertain outcome is now fair game.
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The enthusiasm is backed by eye-popping numbers. As of late 2025, Polymarket and Kalshi are collectively generating roughly $2 billion in weekly trading volume, and some forecasters believe the space could grow into a $95.5 billion industry over the next decade.
Investors eager to capitalize on this trend may be disappointed to learn that there are currently no pure-play, publicly traded prediction-market companies. The good news: several established firms offer meaningful indirect exposure to the growth of prediction markets.
Below, we’ll examine three compelling stocks—Robinhood Markets (HOOD), Interactive Brokers (IBKR), and Intercontinental Exchange (ICE)—and explain how each provides investors a different angle on the rapidly growing pastime of speculating on the future.
Robinhood Markets (NASDAQ:HOOD)
Robinhood is best known as an online brokerage that surged in popularity with millennial and Gen-Z investors—and its stock has been just as explosive. Shares are up more than 200% over the past 12 months. I first wrote about Robinhood in September 2024, and since then, the stock has quintupled. That red-hot performance is backed by fundamentals: in the third quarter of 2025, Robinhood grew revenue 100% year over year to a record $1.27 billion, while total platform assets jumped 119% to $333 billion.
While Robinhood continues to fire on all cylinders across stocks, crypto, and options, it is also emerging as a meaningful player in prediction markets.
Through a partnership with Kalshi, Robinhood now offers prediction markets directly on its platform. CEO Vlad Tenev recently noted that this business is on track to reach a $300 million annual run rate, making prediction markets the fastest-growing product in Robinhood’s history—a notable distinction for a company known for viral adoption.
For investors, Robinhood offers an appealing way to gain exposure not only to the rise of prediction markets but also to the broader surge in trading activity among younger investors. After a powerful rally, valuation is no longer cheap, with shares trading at just under 60x 2025 earnings estimates. That said, the stock is currently in a pullback—down 22% from its 52-week high—which may present a more attractive entry point for long-term investors.
Is HOOD Stock a Buy?
Turning to Wall Street, HOOD earns a Moderate Buy consensus rating based on 14 Buys, five Holds, and one Sell rating assigned in the past three months. The average HOOD stock price target of $148.74 implies 24% upside potential over the next year.
Interactive Brokers (NASDAQ:IBKR)
While Robinhood has captured the imagination of younger investors, Interactive Brokers appeals to a much broader audience, spanning both retail and professional traders. Like Robinhood, it offers access to a wide range of asset classes—including stocks, crypto, options, forex, and more—but with a reputation for depth, sophistication, and global reach.
Interactive Brokers entered the prediction-market space in 2024 with the launch of what it calls “Forecast Markets.” The product drew widespread attention when the firm allowed users to trade forecast contracts on the outcome of the U.S. presidential election. Since then, the brokerage has expanded its lineup, offering a growing selection of forecast markets available for trading on its platform.
The stock has also delivered solid performance in 2025, though not at Robinhood’s blistering pace. Shares are up 42.3% over the past 12 months, compared with Robinhood’s gain of more than 200%. That relative moderation is reflected in valuation: Interactive Brokers trades at a more reasonable ~30x 2025 earnings estimates. Unlike Robinhood, it also pays a dividend, albeit a modest one, with a yield of roughly 0.5%.
Operationally, Interactive Brokers continues to execute at a high level. The company releases monthly performance metrics, and the most recent results underscore its momentum. In November, daily average revenue trades (DARTs) rose 29% year over year, while client equity surged 34% to $769.7 billion. Total client accounts reached 4.3 million, up 33% from a year earlier.
Is IBKR Stock a Buy?
Turning to Wall Street, IBKR earns a Moderate Buy consensus rating based on seven Buys, one Hold, and zero Sell ratings assigned in the past three months. The average IBKR stock price target of $79.51 implies 24.0% upside potential.
Intercontinental Exchange (NYSE:ICE)
Intercontinental Exchange is best known as the parent company of the New York Stock Exchange, along with a global portfolio of exchanges, clearinghouses, and data services that underpin much of the modern financial system.
In October, ICE meaningfully diversified its business and established a major foothold in prediction markets by investing $2 billion in leading platform Polymarket, valuing the company at $8 billion. Polymarket CEO Shayne Coplan highlighted the strategic logic of the partnership, noting that “by combining ICE’s institutional scale and credibility with Polymarket’s consumer savvy, we will be able to deliver world-class products for the modern investor.” ICE CEO Jeffrey Sprecher echoed that sentiment, saying the investment reflects ICE’s intent to “expand our footprint into decentralized prediction markets,” in line with its focus on innovation and data-driven insights.
From a stock-performance standpoint, ICE has lagged the peers discussed above, rising just 4% over the past year. Revenue growth has also been more modest, increasing 3% year over year in the most recent quarter. That said, profitability is more encouraging: diluted earnings per share jumped 25%, reflecting operating leverage and disciplined cost control. ICE is also the cheapest stock in this comparison, trading at under 23.6x 2025 earnings estimates.
Like Interactive Brokers, ICE returns capital to shareholders through both dividends and buybacks. The stock currently yields 1.2%, and the company has been actively repurchasing shares, buying back $894 million in 2025 through September 30.
Is ICE Stock a Buy?
Turning to Wall Street, ICE earns a Strong Buy consensus rating based on nine Buys, one Hold, and zero Sell ratings assigned in the past three months. The average ICE stock price target of $189.71 implies 17% upside potential.
Three Stocks to Bet on the Rise of Prediction Markets in 2026
While public-market investors can’t directly buy shares of Polymarket or Kalshi, all three of these stocks offer compelling ways to gain exposure to the rapidly rising tide of prediction markets. Each company has a broader core business, but all are deliberately building a meaningful foothold in this emerging space—allowing investors to participate in the trend without relying on a pure-play vehicle.
I’m bullish on all three, though for different reasons.
Intercontinental Exchange has lagged both its peers discussed here and the broader market over the past year, but it stands out as the group’s by far cheapest stock—and the highest-yielding. That makes ICE a strong fit for more conservative, value-oriented investors seeking exposure to prediction markets. Its sizable investment in Polymarket provides direct, strategic exposure while maintaining the stability of a mature, cash-generating business.
At the other end of the spectrum, Robinhood offers the most aggressive growth profile. The company is exceptionally well-positioned with the next generation of investors and continues to deliver rapid growth in revenue, users, and assets under management. While the valuation is elevated, Robinhood arguably provides the most upside of the three—and it has already demonstrated real traction in prediction markets, making it especially attractive for risk-tolerant investors focused on growth.
Interactive Brokers sits neatly in the middle, offering something of a “best-of-both-worlds” option. The company is posting strong growth in client assets, accounts, and trading activity, while still trading at a far more reasonable valuation than Robinhood. Its expanding Forecast Markets initiative adds prediction-market exposure without compromising its disciplined, execution-focused business model.
Prediction markets are clearly poised to be a meaningful factor as we head into 2026. While there are still no pure-play, publicly traded prediction-market companies, Robinhood, Interactive Brokers, and Intercontinental Exchange each provide investors with a distinct and compelling way to gain exposure to the trend.