Jefferies: Prediction Market Volume Jumps 55%, Hits New Record in October

Likely due to the ramping of college football and the NFL, average daily volume (ADV) on prediction markets surged last month, hitting a record in dollar terms. In a new report to clients, Jefferies analyst Daniel Fannon says daily turnover on yes/no exchanges surged 55% in October to an all-time high of $4.13 billion as open interest rose 45% month-over-month to $3.27 billion, also a record. Much of that growth was concentrated at the top with the largest prediction market continuing to assert itself, but there were signs of vibrancy last month among other operators, including Polymarket US and Rothera.