[DigitalToday reporter Chi-gyu Hwang] Prediction markets posted a record $717 million in trading volume in the first week of the year despite pressure from U.S. regulators, Cointelegraph reported on Tuesday.
Kalshi traded $465.9 million, accounting for about two-thirds of the total. Polymarket and Opinion also led the market, each recording more than $100 million in trades.
Crypto-based prediction markets have shown steep growth since August last year. Crypto exchanges such as Coinbase and Gemini are also pushing to integrate prediction markets, and self-custody wallets such as MetaMask are showing similar moves.
Regulatory pressure is also intensifying. Several U.S. states, including New York, are reviewing bills to ban predictions related to politics, sports and stock markets. A federal court in Tennessee temporarily halted action by state regulators after Kalshi filed a lawsuit against an order to stop sports event contracts. Ukraine also blocked access to Polymarket in December last year, classifying prediction markets as gambling.
Chi-gyu Hwang
delight@d-today.co.kr