Prediction markets recorded an all-time weekly high in fees, generating more than $2.7 million over the reported week. The increase in fees coincided with rising trading volumes and open interest across major platforms, led by Opinion and Polymarket. Short-term formats and opinion-driven contracts accounted for a significant share of the activity that week.
Record-Breaking Week for Prediction Markets
The sector posted a new milestone with total weekly fees exceeding $2.7 million, driven by higher participation on several leading platforms. This surge reflected heavier turnover in short-duration markets and increased engagement in opinion-style contracts. For related context on platform activity and daily flows, see the daily trading volumes report.
Opinion’s Dominance in Fee Generation
Opinion emerged as the largest fee generator, accounting for 54.3% of total fees and bringing in more than $1.5 million during the week. The platform’s seven-day average trading volume was $115.6 million, while open interest stood at $151.6 million. A reported volume-to-open-interest ratio of 76% pointed to active turnover rather than predominantly passive positions.
Polymarket’s Strong Performance
Polymarket contributed substantially through its short-term formats: its 15-minute up/down markets alone generated $787,000 in fees, representing a notable share of the weekly total. The platform’s average seven-day trading volume reached $112.4 million, and its open interest totaled $335.7 million—the highest among prediction market protocols. Observers noted that Polymarket’s lower volume-to-open-interest ratio indicates a larger portion of longer-dated positions.
Kalshi’s Market Leadership
Kalshi remained the largest platform by overall market share, capturing 52.6% of seven-day volume and more than half of activity across longer time frames. The platform’s average weekly volume was $307.6 million, and open interest reached $334.6 million, placing it alongside Polymarket at the top of the sector. Kalshi’s scale underlined the concentration of activity across a few major venues.
Growth of Smaller Platforms
Smaller protocols also expanded quickly during the week: Probable’s weekly volume jumped by more than 93%, with quarter-over-quarter gains cited as much larger, while Predict Fun averaged $14.6 million in weekly volume. Football.Fun held just over $5 million in open interest, showing that niche and specialized platforms are building liquidity alongside the major players. These moves suggest growing diversity in where traders place bets and risk.
Maturing Prediction Market Landscape
The combined rise in fees, volumes, and open interest points to a maturing market where liquidity and participation are increasing together. Short-term trading formats and opinion-driven contracts appear to be significant drivers of engagement and revenue across platforms. For an introduction to how these markets work, see what prediction markets are.
Why this matters
If you run mining equipment in Russia—whether one rig or a thousand—this development has limited direct effect on your hashing operations, electricity costs, or hardware lifecycle. The recorded rise in fees and platform activity mainly concerns trading venues and liquidity for prediction contracts rather than blockchain mining mechanics. However, higher market activity can affect where and how traders move capital, which may indirectly influence broader crypto market liquidity.
For miners who also trade or hold crypto balances, the week’s data signals more active secondary markets for prediction instruments, especially short-duration and opinion contracts. That can mean faster execution and narrower spreads on those platforms, though it does not guarantee changes to mining revenue or network-level metrics. If you want deeper coverage of platform-specific performance, read more about Polymarket returns.
What to do?
- Monitor: Keep an eye on fees, volumes, and open interest on platforms you use or follow to spot shifts in liquidity or trading behavior.
- Separate activities: Treat mining operations and trading positions as distinct activities—manage risk, logs, and capital for each separately.
- Compare platforms: If you trade prediction markets, compare fee structures and market formats before increasing exposure to short-term contracts.
- Protect accounts: Use strong account security and two-factor authentication on any trading or custody services you use.
- Record keeping: Maintain clear records of trades and transfers to simplify accounting and compliance in your jurisdiction.
