Coalition study estimates offshore prediction-market trading at up to $34bn
A Coalition for Prediction Markets study estimates that US users traded between $11bn and $34bn on unlicensed offshore prediction markets from April 2025 to May 2026. The association says nearly two-thirds of that volume involved Polymarket and reports that licensed operators grew 4.8 times faster than unlicensed counterparts between 2024 and 2025.
The estimates frame the reported scale of unlicensed activity against growth in regulated US prediction markets.