Prediction markets are set to expand beyond traditional betting platforms, introducing five innovative product forms that cater to diverse applications. These include impact trading, belief betting, virtual sports, private information markets, and governance betting. Lightcone's 'impact markets' allow users to trade on the financial influence of events, while Football.Fun offers high-frequency virtual sports betting. Additionally, new markets are emerging for predicting collective beliefs, discovering private information for venture capital, and using market prices to guide DAO governance decisions. This evolution signifies a shift towards more specialized and varied use cases in prediction markets.