US bank Citizens sees prediction market revenue hitting $10B by 2030

U.S. bank Citizens has projected that annual revenue from prediction markets has surpassed $3 billion and will reach $10 billion by 2030, CoinDesk reported. In a new report, the bank noted that trading volume in January surged by 40% compared to December. February's volume has remained at a similar level, despite expectations of a decline following the end of the American football season. The report highlighted that characteristics such as rising trading volume, a solid market structure, and early institutional investor participation are similar to the initial development stages of listed derivatives and cryptocurrencies. Citizens added that its $10 billion forecast for 2030 is a medium-term target rather than a final goal.