a16z Crypto Reports Prediction Market Weekly Volume Hits Record $10.8 Billion

Prediction markets recorded a weekly trading volume of $10.8 billion for the first time, marking a new all-time high, according to data disclosed by a16z crypto. According to Odaily, a16z crypto attributed the record growth to multiple global events occurring at the same time, including a SpaceX IPO, a U.S.-Iran peace agreement, the NBA Finals, and the World Cup. a16z crypto said prediction markets have expanded rapidly over the past year. About a year ago, weekly trading volume was around $500 million, and even during active periods it remained below $1 billion. The firm added that volumes have risen steadily since last autumn and stabilized in the $6 billion to $7 billion range this spring. It said that even during the current “low-volatility week,” market size has exceeded the peak levels seen a year earlier, indicating a continued structural increase in liquidity and participation.