Prediction market cryptocurrency contract trading volume hits a new high, 15-minute Bitcoin up/down betting gains popularity.

BlockBeats news, October 24 - According to Bloomberg, as Bitcoin prices fall into range-bound trading, cryptocurrency-related event contract trading in prediction markets continues to heat up. According to data compiled by Dune Analytics users, the notional trading volume of cryptocurrency-related contracts on Kalshi and Polymarket reached $2.7 billion last week, hitting a record high.

Among them, short-cycle Bitcoin up/down contracts are the most closely watched, with users able to bet on whether Bitcoin or other assets will rise or fall by the end of time windows such as 5 minutes or 15 minutes. A single 15-minute Bitcoin contract on Kalshi can exceed $1 million in trading volume, and some traders also use trading bots to seek trading opportunities in the final seconds before contract expiry.

Cryptocurrency has become the second-largest contract category on Kalshi and Polymarket after sports. Trading volume for year-end Bitcoin price contracts on both platforms is also considerable: as of Thursday, trading volume for related contracts on Kalshi exceeded $42 million, while a Polymarket contract predicting Bitcoin's 2026 price had trading volume of about $78 million.

Crypto trading platforms such as Coinbase, Crypto com, Gemini, and Kraken are actively positioning themselves in prediction markets, with some already obtaining U.S. business authorization and others applying for licenses. Bloomberg noted that prediction markets offer crypto trading platforms a new direction for business growth, but legal disputes and regulatory uncertainty facing sports contracts may also affect the industry's subsequent development.