Prediction markets defy crypto downturn with record Q2 volume: CoinGecko
Crypto markets weakened broadly in Q2 2026: top-10 centralized exchange spot volume fell 27.9% to $1.95 trillion, perpetual futures volume dropped 10% to $12.7 trillion, and stablecoins slipped 1.6% to $305.1 billion. Total crypto market cap also declined 12.6% to $2.1 trillion. Binance kept the largest spot CEX share at 38.7%, while MEXC saw the sharpest drop. DEX activity also fell, with top-10 spot DEX volume down to $408.9 billion; Uniswap remained the leading DEX with 41.2% share. In contrast, prediction markets hit record highs, reaching $113.8 billion in quarterly notional volume. Activity surged in June, helped by sports and politics, with Kalshi leading at 58.9% share and Polymarket at 30.2%. Growth has triggered rising regulatory scrutiny over whether these markets should be treated as finance or gambling.
