In brief
- Prediction market Myriad, owned by Decrypt’s parent company Dastan, has hit a cumulative $100 million in trading volume since its launch.
- The milestone represents a 10x in trading volume over the past three months, with its more than 400,000 active traders making over 6.3 million trades and 7.3 million transactions.
- Myriad’s rapid growth illustrates the “massive demand” for prediction markets, the firm’s co-founder said.
Prediction market protocol Myriad has hit $100 million in cumulative trading volume since its launch, demonstrating the “massive demand” for the burgeoning industry.
Trading volume on the platform has surged 10x in just three months, while its more than 400,000 active traders have made more than 6.3 million trades and 7.3 million transactions since launch.
Myriad’s rapid growth illustrates that prediction markets are “no longer niche experiments,” said the platform’s co-founder and CEO Loxley Fernandes, and indicates “massive demand for a platform where forecasts and insights can be traded like any other financial asset.”
The news comes on the heels of Myriad’s recent rollout on BNB Chain, and the launch of Automated Markets—markets designed around auto-resolution, short timeframes, and continuous flow, enabling users to take part in fast-paced prediction or trading environments without waiting for long settlement cycles.
“We’re building Myriad to be both the intuitive front-end experience for everyday users and the core prediction market infrastructure other teams rely on,” said Myriad co-founder and COO Ilan Hazan. “Our focus is on engineering the protocol layer capable of making prediction markets a foundational pillar of global DeFi.”
The growing prediction market sector
The prediction market sector has seen explosive growth in recent months, with the likes of Polymarket and Kalshi scoring multi-billion dollar valuations following high-profile integrations. Just last week, leaked screenshots appeared to show that crypto exchange Coinbase is testing its own prediction market integration.
Myriad is aiming to turn prediction markets into a “social layer for truth discovery,” co-founder and President Farokh Sarmad said, through close integrations with parent company Dastan’s media platforms Decrypt and Rug Radio. He added that this strategy creates “an always-on flywheel: media coverage drives attention, attention fuels volume, and volume attracts liquidity and traders.”
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Source: https://decrypt.co/349815/prediction-market-myriad-hits-100m-milestone-growing-10x-in-three-months
