Prediction markets reach $63.5B in 2025 as centralized logins expose major security risk

Prediction markets saw trading volume jump from $15.8 billion in 2024 to $63.5 billion in 2025, with activity staying strong into January 2026 as three platforms captured over 95% of global flow. A CertiK report warns that this growth relies heavily on centralized Web2-style authentication, creating critical single points of failure even as on-chain settlement and oracle designs continue to evolve.