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Prediction market betting volumes totaled $25.7 billion U.S. in March, a 10% increase from February, with most users trading under $10,000 U.S., according to a report from Bitget Wallet.

The report is based on 1.29 million wallets tracked in the first quarter. It shows that 82.3% of users traded less than $10,000 U.S. over that time period. 

At the same time, prediction market betting activity grew across crypto, sports, and political markets as users returned more frequently and engaged across multiple categories.  

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Cryptocurrencies are the main entry point into prediction markets, accounting for 40% of activity among first-time users.

Bitcoin (CRYPTO: $BTC) event contracts alone drew about 593,000 users in the year’s first quarter, generating $5.42 billion U.S. in volume.

The report attributes crypto’s onboarding role to continuous market access, familiar price dynamics, and low entry thresholds.

Bitget Wallet said user engagement grows steadily over time, with sports betting leading all prediction market categories with $10.1 billion U.S. in volumes during the first quarter. 

Political markets saw $5 billion U.S. of bets, while crypto-related market volumes totaled $7.3 billion U.S. in the year’s first three months.

Other betting categories, including pop culture, finance, weather, and science recorded smaller trading volumes.

The two largest prediction markets remain Kalshi and Polymarket, both of which are privately held.