Kalshi, Polymarket Face New Rival in Prediction Markets
Kalshi and Polymarket have led the prediction market space throughout the year, but new competitors are beginning to emerge and challenge their dominance.
Opinion Labs Joins the Top Tier
One of the strongest newcomers is Opinion Labs, a platform reportedly backed by Yzi Labs, the investment arm of Binance. In a remarkable achievement, it became the third prediction market to exceed 700 million dollars in weekly trading volume.
Analysts see the competition intensifying, calling it an arms race for market supremacy despite the early advantage of Kalshi and Polymarket.
Weekly Trading Volumes
- Kalshi: 1.26 billion USD
- Polymarket: 1.11 billion USD
- Opinion Labs: 748.8 million USD (week of October 27, 2025)
This performance is notable given that Opinion Labs only opened to the public on November 4, previously requiring an invitation to join.
Expert Insights
“It’s exciting to see another potentially major player with the volume to back up operations entering the prediction markets space,” said Austin Weiler, research analyst at Messari’s protocol services team.
Weiler’s comment reflects growing optimism about the expansion of this sector as more decentralized and hybrid platforms move into the field.
New Competitors on the Horizon
Alongside Opinion Labs, another platform called Limitless is gaining momentum on the Base network, adding further diversity to the rapidly evolving landscape of prediction markets.
Author’s Summary
Kalshi and Polymarket maintain leadership in prediction markets, but new contenders like Opinion Labs and Limitless signal accelerating competition and growth potential in the sector.