Prediction Market Volume Hits Record $123 Billion in October, Up 57.5%

Prediction market trading volume surged to a record $123 billion in October, marking the highest monthly total ever recorded and representing a 57.5% month-over-month increase, according to data from CryptoRank. The figure more than doubled compared to August levels. Sports markets led activity with $26 billion in volume, followed by cryptocurrency markets at approximately $14 billion. Political prediction markets exceeded $800 million, climbing 43% month-over-month, primarily driven by the U.S. midterm elections on November 3.