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Prediction markets hit record $188B in Q3; 69% of retail accounts lose money
- Prediction markets hit record $188B in Q3; 69% of retail accounts lose money — Prediction-market volume hit a record $188B between July and September 2026, up nearly 70% from Q2 and 21x from Q3 2025, with Kalshi's sports trading driving the surge. A Galaxy Research analysis found 69.2% of 2.9 million retail Polymarket accounts finished below break-even, losing $338.9M since 2020, while a federal appeals court ruled September 25 that states can restrict the platforms under existing gambling laws. (Zubiqo)
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