Prediction markets have evolved far beyond their early experimental phase. The real money is flowing now, and it's reshaping the competitive landscape.

A handful of major platforms have consolidated significant market share—Kalshi, Polymarket, and Opinion lead the charge, capturing most trading activity. They've built the infrastructure and liquidity that draws serious participants.

What makes the situation interesting is how Limitless is positioned in this hierarchy. It's not commanding the top spot, that much is clear. Yet it remains competitive and holds meaningful market presence. The real question isn't whether these platforms can survive—it's how they'll differentiate as the prediction market category matures and attracts institutional interest.