Crypto Prediction Markets Set New $2.7B Weekly Volume Record

TLDR: Crypto prediction markets on Kalshi and Polymarket reached a record $2.7 billion in weekly notional volume, largely from short-term Bitcoin and other crypto price contracts. Bloomberg reported that crypto ranked second to sports on both platforms, although the report did not break down volume by asset, venue, or contract. Coinbase’s event-contract product is operated by Kalshi, giving the exchange access to markets without running the underlying marketplace itself. State disputes over sports-related contracts could influence expansion; Michigan’s agreement with Coinbase limited sports contracts but did not resolve the wider legal question.