Kalshi, Polymarket Face New Challenger in Prediction Markets
Kalshi and Polymarket have long dominated the prediction market landscape. However, recent developments indicate fresh competition emerging in this fast-evolving sector.
Opinion Labs Emerges as a Strong Competitor
One new contender is Opinion Labs, reportedly backed by Yzi Labs, the investment arm of Binance. Within just one week, Opinion Labs became the third prediction platform to exceed 700 million dollars in weekly trading volume.
Despite Kalshi and Polymarket maintaining their lead, market observers are calling it an “arms race” for dominance in the sector. The growing activity signals that smaller players are starting to claim market share.
Surging Volumes Reflect Rapid Growth
- Opinion Labs recorded a weekly notional volume of 748.8 million dollars for the week of October 27, 2025.
- Kalshi saw 1.26 billion dollars in trading volume.
- Polymarket posted 1.11 billion dollars in the same period.
These figures are impressive, considering Opinion Labs made its market fully public only on November 4, 2025, after previously requiring invite codes for access.
Expert Insights and Industry Outlook
Austin Weiler, research analyst at Messari’s protocol services team, said he was excited to see another “potentially major” player entering the prediction markets with significant volume behind its operations.
In parallel, another emerging competitor, Limitless, is also gaining traction on the Base network, showing that the field is expanding rapidly beyond its two main leaders.
Author’s Summary
The prediction market space, led by Kalshi and Polymarket, is facing fresh competition from Opinion Labs and Limitless, signaling an intense race for market dominance.