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The report sought to understand how VIP portfolios are managed daily, how the tools are utilised and other key operational challenges.

Although three-quarters of respondents rated their VIP data as good or very good, 71% reported data spread across multiple systems. Half admitted sometimes making decisions with incomplete or outdated information. 

“Silent churn” was prevalent, with nearly half (46%) stating that VIP players often or very often became inactive without prior warning. Around 48% had no indicators of players’ behavioural signals or health. Co-author Viktoriia Grygorenko, CEO at The Playa, called this finding the “clearest commercial case in the report”.

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“We continue to view regulation as the largest risk to prediction markets,” says the analyst. “While industry growth remains robust, adverse legal outcomes could materially impact sports contract availability and long-term adoption.”

Amid a string of losses in federal appellate courts, it appears increasingly prediction markets are angling to take their cases to the U.S. Supreme Court, banking that the high court will allow them to continue offering sports event contracts free of state gambling regulations.

Some legal experts and members of the investment community believe it’s possible the Supreme Court could hear a prediction market case at some point over the next six or seven months.