The total value locked (TVL) in crypto prediction markets has reached a new all-time high of over $550 million, according to DefiLlama data. Polymarket leads the sector with a TVL of approximately $330 million, followed by OPINION at $155 million and Predict Fun at $21.7 million. This surge surpasses the previous peak during the 2024 U.S. presidential election. In terms of trading volume, Kalshi, which operates primarily off-chain, tops the list with a weekly trading volume of $2.2 billion, including a record daily volume of $535.5 million on January 18. Polymarket ranks third with a weekly trading volume of $786 million. Recently, Polymarket introduced maker fees, achieving a record daily revenue of $109,300 on January 12, though it later fell below $75,000. Over the past week, Polymarket's revenue reached approximately $550,000, trailing OPINION's $1.5 million. Kalshi is expected to generate over $263 million in fee revenue in 2025, mainly from sports markets.