Exchange listing behavior shifting toward coins over tokenized equities and prediction markets. Signals regulatory clarity improving or exchanges prioritizing native crypto assets with cleaner compliance profiles. Tokenized stocks carry securities classification risk—delisting exposure high. Prediction markets face CFTC/gaming law uncertainty in most jurisdictions. Pure coin listings = lower regulatory overhang, faster go-to-market, broader retail access. If this trend holds, expect exchange revenue mix to tilt away from synthetic products. Bullish for spot volume growth and native token ecosystems. Bearish for hybrid fintech plays banking on TradFi crossover products.