Prediction markets reach record despite crypto slowdown

• Prediction markets reached record activity during the second quarter despite weaker crypto trading.
• The sector grew as users placed more bets on politics, sports and global events.
• CoinGecko said prediction markets continued attracting users beyond traditional crypto trading.

Prediction markets recorded their strongest quarter on record despite slower cryptocurrency trading activity, according to a CoinGecko report.

The report said trading volume and user activity increased during the second quarter as more people used prediction platforms.

CoinGecko said prediction markets continued growing because users increasingly traded contracts linked to politics, sports and major global events.

The report found that prediction markets expanded even as overall cryptocurrency trading volumes softened during the same period.

CoinGecko said the sector's growth shows prediction markets are developing into a separate blockchain use case beyond digital asset speculation.

The report follows rising interest in decentralised prediction platforms after several high-profile political and sporting events attracted new users.