Decentralized prediction markets continue to witness extraordinary growth, as their weekly trading volume has reached a new all-time high. According to the data reported today by Dune Analytics, the weekly trading volume of Web3 prediction markets has risen to a new record high of $12 billion.
Decentralized prediction markets are blockchain-based platforms that allow users to bet on the outcomes of various future events, like political elections, sports, etc., without relying on traditional prediction markets. While these markets saw their inception in July 2018, they began a new phase of rapid evolution last year, 2025.
As per Dune Analytics’ data, total decentralized prediction market trading volume reached a new record high of $12 billion on Saturday, 31, the last week of January, 2026, the 25th-31st week. This new record high surpassed the previous weekly trading volume of $3.5 billion noted during the 18th-24th previous week.
Kalshi, Myriad, Limitless, Polymarket, and Opinion
As disclosed in the weekly report published today by Dune Analytics, Kalshi , an U.S-regulated prediction platform, emerged as the largest decentralized prediction market in terms of trading volume. Based on the data, Kalshi led the market sector in weekly trading activity, posting over 1 billion in trading volume during the 25th-31st week.
Dune’s data also identified Myriad, Limitless, Polymarket, and Opinion as other top prediction markets that each reported trading volumes surpassing $1 billion during the week, showing their popularity in the sector.
Furthermore, Dune’s data recognized Predict.fun, Forecast, and Overtime as other top prediction markets that recorded outstanding weekly trading volume last week, a reflection that more and more traders are shifting to betting on major life-related events such as political, sports, weather, crypto-related outcomes, and several others in Web3 marketplaces.
Prediction Markets: Dynamics and Drivers
The new weekly trading volume record of $12 billion showcases the rapid surge of user activity across decentralized prediction platforms. Since mid-last year, prediction markets have emerged as one of crypto’s fastest-growing use cases, fueled by increased demand for real-time information markets covering international events, including business, economics, sports, politics, and others.
Until recently, these markets remained relatively small because of regulatory hurdles and public unawareness. However, things tremendously changed in 2025, when prediction markets witnessed an explosive increase in both user participation and trading volumes. Weekly trading volumes across leading platforms crossed above $2 billion for the first time in October 2025, signifying a rapid rise in customer adoption and liquidity. The continued growth of the trading volume shows that decentralized prediction markets have moved from niche experiments to a mainstream trend. This enthusiasm is not just driven by retail traders but also by institutional customers.
