A new report from Bitget Wallet and Polymarket reveals a significant shift in prediction markets, as they transition from occasional event-based bets to platforms focused on daily user interaction. The report highlights a substantial increase in trading volume, with Polymarket reaching $25.7 billion in March, driven by the activity of 1.29 million wallets in the first quarter. Users are now participating in a broader range of markets, including crypto, sports, and politics, with over 82% of users trading less than $10,000 during the quarter. According to Alvin Kan, Bitget Wallet's COO, 'prediction markets are becoming less about capital and more about consistent, repeated actions,' with users engaging in smaller, more frequent trades.
The report suggests that this behavioral shift is driving growth, with crypto serving as the primary entry point for new users. As users become more active, they shift towards markets tied to real-world events, leading to a structural change in prediction markets. The industry is projected to reach $240 billion in volume this year, with a long-term goal of $1 trillion, as participation increases and the focus moves towards accessibility and usability.