Prediction Markets Reach $1.48 B Record Open Interest

a16z Crypto reported that open interest in crypto prediction markets hit a record $1.48 billion for the week ending June 15, marking a second consecutive all‑time high and a six‑fold rise over the past year. The figure reflects the total value of active contracts and signals growing trader confidence and potential volatility in the derivatives sector.

Polymarket, a leading prediction‑market platform, is under investigation by the Wall Street Journal for allegedly paying influencers $2,000‑$3,000 a month to post fabricated profit videos that concealed the sponsorship. The scheme targeted U.S. users despite the platform’s ban in the United States since 2022. In response, Polymarket announced a review of its promotional practices and launched a new culture‑focused podcast with Dear Media.

Trading on Polymarket remains concentrated in three areas: sports (about 39% of volume), crypto (20%) and politics (32%). The surge in open interest suggests expanding engagement across these topics, prompting traders to monitor risk management as market activity intensifies.