Forecast market TVL hits a new high, surpassing $550 million, with Polymarket locking in $330 million in the lead

ChainCatcher reports that, according to DefiLlama data, the total locked value (TVL) in the crypto prediction market surpassed $550 million this week, reaching a new all-time high and surpassing the previous peak during the 2024 US presidential election.

Polymarket leads with approximately $330 million in TVL, followed by OPINION ($155 million) and Predict Fun ($21.7 million). In terms of trading volume, Kalshi, which mainly operates off-chain, topped the list with a weekly trading volume of $2.2 billion, and a record single-day trading volume of $535.5 million on January 18. Polymarket's weekly trading volume is about $786 million, ranking third.

Polymarket, which previously operated for free, recently started charging fees on some markets. On January 12, its single-day revenue hit a record $109,300, then fell back below $75,000. Over the past 7 days, Polymarket's revenue was approximately $550,000, second only to OPINION's $1.5 million. Kalshi estimates that its fee revenue will exceed $263 million in 2025, mainly from sports markets.