Forecast market enthusiasm continues to rise, Polymarket's open contracts hit a new high for the year

【BlockBeats】The popularity of prediction markets has really surged over the past two years. According to on-chain data, the open interest on Polymarket has been climbing all year, recently surpassing $326 million, nearly 1.7 times the $120 million at the beginning of the year.

From a market structure perspective, sports, politics, and crypto are the hottest sectors, accounting for 46.6%, 21.12%, and 12.4% respectively. Especially the political sector; during the US election last year, the open interest in politics alone reached $385 million, setting a platform record of $410 million.

Interestingly, at the end of each month, a large number of contracts expire and settle, with about one-third of the positions typically being closed. This cyclical fluctuation actually reflects an increasing market activity.

Bitwise recently released a 2026 crypto market forecast, mentioning that the open interest on Polymarket is expected to hit new highs next year, potentially surpassing the levels seen during the 2024 US election. It seems the potential for prediction markets is quite large, and this track is maturing.