NASDAQ:PRE 30 December 2025

May 19, 2026, 1:40 PM EDT. The U.S. may soon allow digital versions of stocks without voting rights or dividends, enabling investors to gain "exposure" without actual ownership. These shadow stock markets could attract passive investors by offering cheaper alternatives to traditional shares. While prediction markets already offer price tracking, concerns arise that tokenized stocks could reduce capital flow to companies, undermining the stock market's role in funding growth. History suggests synthetic financial products often fail to provide the same economic benefits as real assets. The move could reshape investment dynamics, crowding out genuine equity participation.