Onchain Prediction Markets Hit $25.7B Record in March

A joint report from Bitget Wallet and Polymarket reveals that onchain prediction markets reached a record 25.7 billion in trading volume in March, propelled primarily by retail users amid subdued broader cryptocurrency activity.

The analysis, based on 1.29 million wallets active in the first quarter, found that more than 80 percent of participants traded less than 10,000, with 82.3 percent fitting that retail profile. This grassroots surge marked a 10.6 percent increase from February and a sharp rise from 1.9 billion a year earlier, according to corroborating data from Dune Analytics showing 23.7 billion for March. Users demonstrated heightened engagement, with average active days per wallet climbing from 2.5 to 9.9 and the number of categories traded per user expanding from 1.45 to 2.34.

Sports markets dominated, generating 10.1 billion in quarterly volume fueled by ongoing global events such as NBA and English Premier League games. Political markets followed with 5 billion, including 2.41 billion linked to geopolitics, reflecting responses to real-time news rather than isolated elections. Cryptocurrency-related markets served as the main entry point, accounting for nearly 40...