Prediction markets have reached a new milestone, with weekly notional volume surpassing $5.37 billion, marking a 0.31% increase. Polymarket and Kalshi are at the forefront, with Kalshi recording a volume of $2.59 billion, up 6.75%, while Polymarket saw a decline of 3.18% to $1.82 billion. Other platforms like Predict and Opinion also contributed significantly, with Predict experiencing a 19% volume increase. The sector also hit a record 38 million transactions, with Polymarket leading at 22.58 million and Kalshi following with 15 million. Traders are actively betting on market directions and industry decisions, with a notable focus on potential insider trading exposures. Despite some criticism of these markets as "glorified gambling," trading activity continues to rise, reflecting their growing role in gauging market sentiment. Traders are increasingly bearish, with 65% predicting Bitcoin could fall below $50,000 and 78% expecting Ethereum to drop below $1,500 by 2026. These prediction markets are becoming crucial for understanding market sentiment, as they offer insights into traders' expectations and potential market directions.