Prediction markets notched a record $114 billion in trading volume during the second quarter. The milestone comes as the broader crypto market saw trading activity shrink over the same period.
The figure marks the highest quarterly total ever for the sector, where users wager on outcomes of elections, sports, and other events. The previous record stood for less than a year.
Record quarter for prediction markets
Volume on prediction platforms surged in the three months through June. The $114 billion tally easily beat prior quarterly numbers, though exact comparisons to earlier records weren't available. The growth has been steady, with more traders jumping into event-based contracts.
A handful of platforms dominate the space. They've expanded beyond politics into sports, finance, and entertainment. Some institutional investors now use prediction markets as a source of alternative data, adding to the volume.
Broader crypto market contracts
Spot and derivatives exchanges, meanwhile, reported lower activity across the second quarter. The downturn has been building for months. Regulatory uncertainty and a lack of fresh retail inflows have weighed on trading volumes.
The divergence is sharp. For much of 2025, both prediction markets and the broader crypto market moved in tandem. That changed this year. Prediction markets kept climbing while everything else stalled.
What drove the surge? The second quarter featured several high-profile events that drew heavy betting. But no single event was cited as the main cause. The record seems to reflect a broader shift in trader behavior toward event-based speculation.
For prediction market operators, the Q2 numbers are a bright spot. The next quarterly data is due in October. Until then, the gap between prediction markets and the rest of crypto will be the metric to watch.
