Prediction Markets Boom: From Niche to $3B, Analysts Forecast $10B Future Growth

Prediction markets are experiencing explosive growth, transitioning from a niche sector to a $3 billion annual run-rate industry, according to a new report from Citizens JMP Securities. Analysts project a bright future, with the total addressable market potentially reaching $10 billion. This surge is driven by increasing mainstream adoption, regulatory clarity in some jurisdictions, and the integration of blockchain technology for enhanced transparency and global access. Key players in the crypto space, including platforms leveraging Ethereum (ETH) for smart contracts, are at the forefront of this innovation. The report highlights that prediction markets are expanding beyond traditional event outcomes into areas like corporate forecasting and risk management, signaling a significant shift in their economic and financial applications.