Prediction markets are crushing it and a clear PMF of crypto.
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@a16zcrypto
Prediction markets hit a record $10.8 billion in weekly trading volume in the week ending June 15 — their biggest week ever. Several big events coincided that contributed to the all-time high: the SpaceX IPO, a U.S.-Iran peace deal, the NBA Finals, the Stanley Cup, and the opening of the World Cup, among them.
A year ago, a typical week on prediction markets ran around half a billion dollars, and even the busiest weeks stayed under $1 billion. That floor has climbed steadily since. It climbed past $1 billion last fall, past $4 billion by winter, and into the $6–7 billion range this spring.
Even a quiet week today dwarfs the biggest week of a year ago.
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