Trading volumes in prediction markets are higher than ever, with Monday seeing a record $814.2 million worth of trades placed on Kalshi, Polymarket and other platforms.
Magic Eden CEO and co-founder Jack Lu says the crypto industry is entering a “speculation supercycle,” driven by a boom in prediction markets and betting platforms that are blending finance with entertainment.
“Speculation is mainstream now. And Magic Eden is building for this world,” Lu posted to X on Monday.
Lu’s remarks come as prediction markets’ trading volumes reached a record $814.2 million on Monday, smashing the previous record of $701.7 million last Monday, Dune Analytics data shows.
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