# Prediction markets’ biggest month yet, in 3 charts > Prediction markets just had their biggest month ever. Notional trading volume hit $123.6B. That’s 1.5x all of 2024 and 2025 combined ($82B). Even if you use a much more conservative measure and look at the cash that buyers paid for contracts (counting parlays at the cents paid for them, not the $1 t... - URL: https://a16zfrontier.com/posts/article/prediction-markets-biggest-month-3-charts/ - Authors: [Robert Hackett](https://a16zfrontier.com/team/robert-hackett/) - Published: 2026-11-05 - Focus areas: tech trends - Tags: data insights, prediction markets --- Prediction markets just had their biggest month ever. Notional trading volume hit $123.6B. That’s 1.5x all of 2024 and 2025 combined ($82B). ![](https://dwt2zme5yrom6.cloudfront.net/uploads/2026/11/prediction-markets-record-month-cotw-1024x1024.png) Even if you use a much more conservative measure and look at the cash that buyers paid for contracts (counting parlays at the cents paid for them, not the $1 they pay out), October still topped all of 2025. - October ‘26: $22.7B  - All 2025: $20.9B ![](https://dwt2zme5yrom6.cloudfront.net/uploads/2026/11/prediction-markets-money-paid-defillama-cotw-1024x1024.png) Almost every prediction market measure hit an all-time high in October (up from Sept. records). - Contracts traded: $123.6B (up 58%) - Cash paid in: $22.7B (up 25%) - Trades: 644M (up 36%) - Fees: $647M (up 27%) - Open interest: $3.1B (up 42%) ![](https://dwt2zme5yrom6.cloudfront.net/uploads/2026/11/prediction-markets-record-every-measure-cotw-1024x1024.png) Prediction markets are media properties as much as markets. Kalshi and Polymarket drew 28M and 38M site visits in October, respectively.  That puts them in league with Bloomberg (38M) and Politico (32M), per Similarweb. \*\*\* **Robert Hackett** is features editor and head of special projects at a16z frontier. \*\*\* *The views expressed here are those of the individual AH Capital Management, L.L.C. (“a16z”) personnel quoted and are not the views of a16z or its affiliates. Certain information contained in here has been obtained from third-party sources, including from portfolio companies of funds managed by a16z. While taken from sources believed to be reliable, a16z has not independently verified such information and makes no representations about the current or enduring accuracy of the information or its appropriateness for a given situation. In addition, this content may include third-party advertisements; a16z has not reviewed such advertisements and does not endorse any advertising content contained therein.* *This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making a decision to invest in any fund managed by a16z. (An offering to invest in an a16z fund will be made only by the private placement memorandum, subscription agreement, and other relevant documentation of any such fund and should be read in their entirety.) Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by a16z, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. A list of investments made by funds managed by Andreessen Horowitz (excluding investments for which the issuer has not provided permission for a16z to disclose publicly as well as unannounced investments in publicly traded digital assets) is available at https://a16z.com/investments/.* *Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Please see https://a16z.com/disclosures for additional important information.* --- Source: [Prediction markets’ biggest month yet, in 3 charts](https://a16zfrontier.com/posts/article/prediction-markets-biggest-month-3-charts/) — a16z Frontier. See https://a16zfrontier.com/llms.txt for a site index.