US bank Citizens: "Prediction markets seen generating $10 billion in annual revenue by 2030"
Summary
- Citizens, a US bank, said it expects the prediction-markets industry’s annual revenue to reach $10 billion by 2030.
- Annual revenue from prediction markets has already exceeded $3 billion; January trading volume rose 40% from the prior month, and February has held at a similar level.
- Citing rising trading volumes, a robust market structure, and early institutional investor participation, the report said the projection of surpassing $10 billion by 2030 is a midterm target rather than an end goal.
Citizens, a US bank, forecast that annual revenue in the prediction-markets industry will reach $10 billion by 2030.
According to CoinDesk, a virtual-asset (cryptocurrency) news outlet, Citizens said in a report that current annual revenue from prediction markets has surpassed $3 billion. In particular, January trading volume rose 40% from December, and February volumes have held at a similar level despite expectations of a decline following the end of the American football season.
The report said that "rising trading volumes, a robust market structure, and early participation by institutional investors resemble characteristics seen in the early growth stages of listed derivatives and virtual assets," adding that "the projection of surpassing $10 billion by 2030 is not an end goal but a midterm target."
Industry participants expect that as prediction markets expand into areas such as politics, sports and macroeconomic events, points of contact with regulated finance will also increase.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
