Published on: June 29, 2026, 06:18h.
Updated on: June 29, 2026, 06:18h.
- A Bitget report reveals that 60% of Polymarket users were unfamiliar with on-chain trading prior to participation.
- Polymarket functions as a decentralized, cryptocurrency-centric prediction market.
- The platform is effectively introducing new users to the cryptocurrency landscape.
A recent analysis suggests that a notable portion of Polymarket users discover the world of blockchain and cryptocurrency through the prediction market platform.
The Bitget Wallet report, which analyzed 857,000 active Polymarket users over a 90-day period, reveals that 60% had no previous experience with on-chain transactions or cryptocurrency before depositing funds into the yes/no exchange. The term “on-chain” refers to actions that take place and are recorded on the blockchain, which is particularly pertinent in the context of Polymarket as it is a crypto-centric and decentralized platform.
According to Bitget Wallet, “Prediction markets are increasingly serving as a gateway into crypto rather than merely a specialized trading segment, with users engaging in on-chain activity directly through application interfaces, rather than through decentralized exchanges or DeFi protocols.”
Unlike Polymarket, Kalshi, the preeminent prediction market in the U.S., is a centralized operation, although it has made significant strides into the cryptocurrency space.
Potentially Positive Outlook for Polymarket
While Kalshi outpaces Polymarket in both market share and private valuation, Polymarket’s commitment to a crypto-first, DeFi approach is increasingly becoming a competitive advantage.
Bitget Wallet emphasizes that once new users become familiar with Polymarket, their trading activity significantly increases. The organization found that respondents recorded nearly 1,200 interactions within the prediction market during the 90-day study compared to about 12 trades on standard decentralized exchanges within the same timeframe.
This study coincides with reports indicating that Polymarket has surpassed $1 billion in annualized revenue. While Polymarket operates on the Polygon network, much of its liquidity is derived from Ethereum-based chains.
“This implies that prediction markets are not just another crypto trading sector but represent an application-based onboarding channel, where users start with tangible questions and later engage with the underlying financial systems,” observes Bitget.
Prediction Markets as a Means of Attracting New Crypto Users
Experts consider prediction markets to be a burgeoning frontier for cryptocurrency engagement, a viewpoint supported by the findings from Bitget Wallet. As highlighted by Bitget Wallet COO Alvin Kan, more traders are finding prediction markets to be their initial point of contact with crypto.
The fact that newcomers are not required to have expertise in blockchain or DeFi before engaging with prediction markets increases the potential for sustained relationships between users and platforms like Polymarket.
Ultimately, Bitget Wallet concludes, “Prediction markets seem poised to evolve into one of the earliest scalable consumer onboarding layers for crypto, as the blockchain infrastructure becomes increasingly obscured, allowing user experiences to focus on real-world results instead of complex financial constructs.”