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00:02ARK Invest CEO Cathie Wood praised Kalshi's leadership after the firm bought shares in
00:07the prediction market platform across three of its actively managed ETFs, according to Benzinga.
00:12In a post on X, Wood said Kalshi's management team is phenomenal and positioned for where
00:16prediction markets are headed. ARK purchased a combined 126,594 Kalshi shares on September 18th
00:24through the ARK Innovation ETF, ARK Next Generation Internet ETF, and ARK Fintech Innovation ETF.
00:31ARK analyst Nick Grouse estimates prediction markets could reach $1 trillion to $5 trillion
00:36in annual notional volume over the medium term. Kalshi currently handles more than 90% of U.S.
00:42activity. ARK cited state-level legal challenges, competition from Robinhood,
00:46and potential pressure on take rates as risks. For all things money, visit Benzinga.com.
