Record Trading Volumes in Prediction Markets Amid Legislative Proposal

Data indicates that during the week ending March 9, Polymarket and Kalshi reached record nominal trading volumes of $2.49 billion and $2.85 billion, respectively. According to ChainCatcher, Dune data reveals that the ongoing increase in trading activity has driven the total nominal trading volume across all prediction markets to $145 billion, with 2.8 million independent users. Meanwhile, U.S. Democratic Senator Adam Schiff has introduced the DEATH BETS Act, which aims to amend the Commodity Exchange Act (CEA) to explicitly prohibit federally regulated prediction markets from listing contracts related to war, terrorism, assassination, and individual deaths. This legislative move follows concerns over insider trading after six Polymarket traders profited $1 million from accurately betting on a U.S. attack on Iran.