Tech, Media & Telecom Roundup: Market Talk

The latest Market Talks covering Technology, Media and Telecom. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1503 ET – Prediction markets are taking the online gaming industry by storm, with the World Cup providing the latest evidence that the category may ultimately grow larger than many investors expect, TD Cowen analysts say in a note. The analysts point to an acceleration in app downloads for Kalshi and Polymarket during the opening weeks of the tournament. Those trends are a sign that the category is attracting more interest, which should benefit DraftKings, whose experience with customer acquisition, product innovation and customer attention may ultimately outweigh the early traction of other prediction market platforms, they say. “While current engagement is concentrated among early movers, we view that as evidence of category formation rather than evidence that long-term winners have already been determined,” they say. (kelly.cloonan@wsj.com)