Hello reader, If Meta wants a piece of the action, it's usually a sign that the trend is big. Then again, the company doesn't always get these bets right. Remember VR? This time around, the tech giant is reportedly building its own prediction markets offering. This comes as the industry is on track to reach US$240 billion in trading volume this year, surging around 4x compared to 2025 estimates, according to Bernstein analyst Gautam Chhugani. But while the numbers are eye-watering, the path forward is messy. Major players from the West like Polymarket and Kalshi are fighting fires on multiple fronts. Even in the US, Polymarket and Kalshi are facing bans and investigations. The platforms are also outright barred from operating in a number of Asian markets like Singapore, Thailand, and the Philippines. But with these two leaders being mostly absent in Asia, the market is open to homegrown up-and-comers. One of them is K25.ai. The Singapore player is blending entertainment into prediction events, as this edition's featured story shows. The platform has actual livestreams showing the events users will be betting on. It will feature insights from key opinion leaders as well as highlights from the events themselves. However, regulatory hurdles in Asian markets can be steep. On this front, K25.ai is leveraging its Curacao online gaming license and an EU virtual asset license while it prepares to dance with local regulators country by country as it scales. And while K25.ai appears to have the AI side of the business figured out, teams from other companies are still working out the kinks, as our guest writer suggests. You can find out more in her piece. Miguel Cordon, journalist | 
