Prediction markets defy crypto downturn with record Q2 volume: CoinGecko
Cryptocurrency markets struggled broadly in the second quarter of 2026, with declines across stablecoins, spot trading and derivatives, but prediction markets reached record highs. Spot trading volume across the top 10 centralized exchanges (CEXs) fell to $1.95 trillion in the second quarter of 2026, a 27.9% drop from $2.7 trillion in Q1, according to CoinGeckos latest Crypto Industry Report published Thursday. CEX perpetual futures volume also declined 10% to $12.7 trillion, while the stablecoin market slipped 1.6% to $305.1 billion. In contrast, prediction markets recorded their strongest quarter on record with $113.8 billion in notional volume. The divergence highlights the growing role of prediction markets, with sports and politics emerging as the sector‘s biggest drivers. Polymarket’s World Cup winner market alone has attracted more than $3.3 billion in trading volume, while contracts tied to the 2028 US presidential election rank among the platforms largest markets, according to Polymarketscan data.Source: Polymarketscan Binance extends dominance despite bear market as DEX activity falls Despite the bear market, Binance extended its dominance, with a 38.7% market share in Q2. In contrast, MEXC saw the biggest slump among spot CEXs, with trading volume more than halving from $275.2 billion in Q1 to $121.2 billion in Q2. DEX activity also weakened during