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Weekly notional trading volume in cryptocurrency-related event contracts on major prediction market platforms Kalshi and Polymarket reached a record $2.7 billion last week, Bloomberg reported.
Short-term contracts tied to whether assets such as Bitcoin would rise or fall after a set period led trading activity, with per-contract volume on Kalshi’s 15-minute Bitcoin price prediction contracts at times exceeding $1 million. Trading volume in longer-dated crypto prediction markets also increased noticeably. Kalshi’s year-end Bitcoin price prediction contract recorded $42 million in volume, while Polymarket’s comparable year-end Bitcoin contract reached about $78 million.