Prediction Markets Hit Record $10.8 Billion in Weekly Trading Volume

Weekly trading volume on prediction markets reached a record $10.8 billion in the week ended June 15, marking the biggest week on record for the sector.

Several high-profile events coincided with the surge, including the SpaceX IPO, a U.S.-Iran peace deal, the NBA Finals, the Stanley Cup and the start of the World Cup. A year earlier, a typical week was about $500 million and even the busiest weeks stayed below $1 billion; the baseline later climbed above $1 billion in the fall, above $4 billion in winter and to roughly $6 billion to $7 billion this spring.