The State of Prediction Markets.

A quarterly report on the business of prediction markets. Notional volume by venue, fee revenue, venture funding, the incumbents moving in and the regulation deciding what these markets can be. Written and researched by Pet Berisha and Omar El Safy. Free to read.

Q2 2026State of Prediction Markets, Q2 2026Prediction markets traded $111 billion in notional volume between April and June 2026, more than 2024 and 2025 combined. The World Cup, Kalshi's combos and Robinhood's new exchange drove the quarter.Download the report →Q1 2026State of Prediction Markets, Q1 2026The first quarterly report on the business of prediction markets: volumes, venues, funding and regulation for January to March 2026.Download the report →