Online betting markets are “the next evolution into what’s driving the markets that we run,” New York Stock Exchange President Lynn Martin said Wednesday.
NYSE’s parent company recently invested $2 billion into Polymarket, a leading online predictions site and one that is “focused more on geopolitical” outcomes that can swing stock prices, Martin said, speaking at Semafor’s World Economy Summit in Washington, DC.
More “sanity” is needed, she added, to curb the kind of retail excesses that spilled over into stock markets during the SPAC and meme-stock booms. “It goes back to regulation and… leveraging that regulatory framework to put sanity around behavior that happens.”
When asked whether betting markets should be regulated more like stock markets, she said, “I can’t really say.”