TLDR
- Prediction market transactions hit a record 38.01 million last week across all platforms
- Polymarket led with 22.58 million transactions, over half the total volume
- Kalshi came in second with 14.86 million transactions
- Opinion ranked third with 227,500 transactions
- Growing crypto adoption and lower transaction costs are driving new users to these platforms
Prediction markets just had their biggest week ever, with 38.01 million total transactions recorded across major platforms. The data comes from Dune Analytics and was reported on February 23, 2026.
Polymarket led the pack with 22.58 million transactions for the week. That is more than half of all activity recorded across the sector.
Kalshi came in second place with 14.86 million transactions. Opinion finished third with 227,500 transactions, which tracks price prediction activity specifically.
Prediction markets let users trade on the outcomes of real-world events. These include politics, sports, crypto prices, and global news.
Trades are settled automatically using blockchain technology. This removes the need for a central authority to decide outcomes.
Polymarket has built a reputation for having a simple interface and a wide range of available markets. That has helped it attract both new and experienced crypto traders.
How Prediction Markets Work
When an event happens, smart contracts pay out winners automatically. Users buy shares that represent a yes or no position on a given outcome.
The prices of those shares shift based on what the crowd believes will happen. This makes prediction markets a type of crowd-sourced forecasting tool.
Kalshi operates differently from Polymarket in that it is a regulated exchange based in the United States. It received approval from the Commodity Futures Trading Commission to offer event contracts.
What Is Driving the Growth
Lower transaction costs on blockchain networks have made it cheaper to participate. Better onboarding tools have also reduced the technical barrier for new users.
High-profile global events tend to drive spikes in activity. Uncertainty around political or economic outcomes gives traders more reason to take positions.
The broader crypto market has also seen renewed activity in early 2026. Rising interest in crypto often lifts related sectors like decentralized finance and forecasting platforms.
Opinion, the third-ranked platform, focuses specifically on price prediction markets. Its 227,500 transactions show there is steady demand for crypto-focused forecasting tools.
The 38.01 million weekly transaction record is the highest ever recorded for the prediction market sector. Previous weekly highs had not crossed this level, according to the Dune data.
Polymarket’s 22.58 million transactions represent a continuation of its dominance in the space. The platform has held the top position for weekly volume for several consecutive reporting periods.
Kalshi’s 14.86 million transactions put it firmly in second place. The gap between Kalshi and Opinion in third is wide, showing how concentrated activity still is at the top.
The weekly report covering the period through February 23, 2026 confirmed all three platform figures. Polymarket, Kalshi, and Opinion together account for the bulk of recorded prediction market activity.
