Prediction Markets Hit Monthly Record With $123 Billion in October

Prediction markets handled $123 billion in trading volume in October, setting a monthly record. The total was up 57.5% from September and more than double the August level.

Sports markets generated $26 billion, the largest category in the reported breakdown. Crypto markets followed with about $14 billion, putting sports volume at nearly twice the crypto total. Together, the two segments represented about $40 billion in October trading.

Political markets exceeded $800 million in October, up 43% from September. The Nov. 3 U.S. midterm elections helped drive that increase. Political-market volume remained far below sports and crypto activity despite the monthly gain.

The three reported segments varied widely in scale. Sports volume was nearly twice the crypto total, while political markets remained much smaller than either. Overall, October volume was more than double its August level, following a substantial two-month expansion.