Dream Exchange Report Finds American Capital Markets Face Systemic Inefficiencies That Misallocate Resources on a Massive Scale
Report documents systemic market failures that cost U.S. households jobs, investment returns, and innovation
CHICAGO, Sept. 16, 2025 /PRNewswire/ -- Dream Exchange today released Breaking the Cycle of Structural Oppression in Capital Markets, an in-depth report discussing how the current U.S. market structures may result in an estimated $10 trillion in household wealth outside productive use. The study highlights inefficiencies that restrict qualified entrepreneurs from raising growth capital and limit opportunities for investors to share in innovation.
Drawing on data from various governmental sources, such as the Federal Reserve, Securities and Exchange Commission, Consumer Financial Protection Bureau, as well as other sources, the report shows that barriers to participation are not only inequitable, but also economically inefficient:
- Declining Public Markets: The number of listed U.S. companies has fallen by nearly 40% since the 1990s, reducing opportunities for everyday investors. Companies under $100 million now account for less than 10% of Initial Public Offerings, down from 40% historically.
- Geographic Concentration: Three metropolitan areas — San Francisco Bay Area, New York, and Boston — capture around 75% of venture capital, leaving most regions underserved.
- Demographic Disparities: People of color and other minority groups received only a small percentage of venture capital funding. The report shows that, for example, Black founders receive about 0.4% of venture funding. The report also show that credit denial rates are higher among minority and those "mid- to small cap" participants – citing, for example, that Black-owned firms face credit denial rates near 40%, which is about double that of white-owned firms.
- Information Gaps: More than 2,000 public companies lack analyst coverage, leaving investors flying blind and starving businesses of visibility.
View the full report at https://www.dreamex.com/breakingthecycle/
"This analysis reinforces why alternative market structures are essential for American competitiveness," said Joe Cecala, CEO and Founder of Dream Exchange. "When barriers exclude qualified businesses, investors lose returns, companies cannot grow, and communities lose jobs and innovation."
As former SEC Chair Jay Clayton warned in remarks cited by the report: "The decline in listings leaves households with narrower choices and fewer opportunities to participate in growth."
To learn more about Dream Exchange join us for our next live webinar on October 2nd at 1:00 PM Central Time. The webinar will be presented by Founder and CEO, Joe Cecala. Click the link below for to register for free:
https://event.webinarjam.com/register/280/94yr4f3p
About Dream Exchange
Dream Exchange has filed its Form 1 Application with the Securities and Exchange Commission. Upon approval, it will become the first minority-controlled licensed stock exchange in U.S. history. Dream Exchange is also advocating for a new "venture exchange" designed for smaller, early-stage companies traditionally excluded from public markets.
Media Contact:
Robert Todd
PR Manager, Dream Exchange
773-914-1182
[email protected]
SOURCE Dream Exchange
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