Polymarket World Cup Trading Volume Tops $2 Billion in 10 Days
Summary
- Polymarket's trading volume exceeded $2 billion within 10 days of the World Cup's start, marking an increase of about 300%, The Block reported.
- Rival platform Kalshi's open interest (OI) surpassed $1 billion for the first time and now stands at $1.16 billion.
- The figure is up about 350% from the start of this year, suggesting demand for sports-related prediction markets expanded around the World Cup.
Forecast Trend Report by Period
Trading volume on prediction-market platform Polymarket has surged since the start of the FIFA World Cup.
Crypto news outlet The Block reported on June 24 that trading volume in Polymarket's soccer category exceeded $2 billion within 10 days of the tournament's opening. That was roughly 300% higher than during the comparable period before the event.
Open interest on rival platform Kalshi has also climbed rapidly. The platform topped $1 billion in open interest for the first time last Thursday and now stands at $1.16 billion.
That is about 350% higher than at the start of the year. The World Cup appears to have boosted demand for sports-related prediction markets, lifting trading activity across major platforms.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
