Andreessen Horowitz said open interest held at a record $1.6 billion as Polymarket’s World Cup trading topped $3.3 billion, while HIP-4 open interest on Hyperliquid reached $25 million amid sports-driven activity.
Prediction-market trading volume reached a record $14.5 billion last week for a third straight weekly high, according to Andreessen Horowitz, with aggregate open interest holding at a record $1.6 billion. The surge has been driven by sports and non-sports contracts, including more than $3.3 billion in Polymarket World Cup-related volume and $3.6 billion in non-sports trading across Kalshi and Polymarket. Sports-event speculation also lifted activity on crypto platform Hyperliquid, where HIP-4 open interest hit an all-time high of $25 million, underscoring how major tournaments are influencing event-driven trading across venues. The growth is unfolding as the Commodity Futures Trading Commission has reportedly opened an investigation into Polymarket, according to The Wall Street Journal.