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Consulting firm Crane Zeng released a report stating that the trading volume of offshore prediction market platforms accessed by U.S. users via VPNs and other methods has reached $11 billion to $34 billion, with Polymarket accounting for $11 billion to $27 billion. The report estimates that offshore platforms account for 12.5% to 31.5% of U.S. prediction market trading volume, with about 30% of Polymarket's trading volume coming from U.S. users. Data shows that the trading volume gap between regulated platforms and offshore platforms is narrowing. During the reporting period, CFTC-regulated platforms such as Kalshi and IBKR ForecastEx handled a total of approximately $74 billion in trading volume, while offshore platforms totaled about $85 billion. (The Block)