UNANSWERED QUESTIONS ABOUT PREDICTION MARKETS

Summary from the TLDR Crypto newsletter

Prediction markets like Polymarket and Kalshi have moved beyond speculation, processing $35B+ since inception and $17.5B in 2025 YTD. Kalshi is leaning heavily into sports (96% of recent volume), while Polymarket skews political and long-tail cultural events. Both face limits from full collateralization and oracle/review structures, yet their growth suggests prediction markets are maturing into one of finance's most speculative and democratizing frontiers.